Raise Scoreboard
Week 43Modal Labs, Inc. $602MFormfactor Inc $300MXona Space Systems Inc. $239MWaveDivision Capital XIX, LLC $163MSend Cut Send, Inc. $140MTCG Opportunity Fund II, LLC $113MCarter Investment Holdings, L.P. $112MTown.com, Inc. $104M

Weekly recap

Biggest private raises: Week 50, 2025 (Dec 8–14)

249 companies reported $4.65B in new private raises on Form D in Week 50, 2025 (Dec 8–14). The biggest was Synopsys Inc, $2B in the Tech League from California. Fervo Energy Co ($452M) and fal - Features & Labels, Inc. ($140M) rounded out the top three. The Tech League led all leagues with $2.77B across 55 raises. California topped the state standings with $2.57B. That is up 16% versus the week before ($4.03B). 168 of the 249 were first-time Form D filers, led by Synopsys Inc ($2B). In the Fund League, 215 funds reported $8.40B.

Top 25

#CompanyLeagueStateRaisedRaisingFiled
1Synopsys Inc rookieTechCA$2B$2BDec 8
2Fervo Energy CoEnergyTX$452M$462MDec 10
3fal - Features & Labels, Inc.TechCA$140M$140MDec 10
4Void Star Holdings Inc.TechVA$103M$107MDec 12
5Ohio Equity Fund for Housing Limited Partnership 35B rookieReal EstateOH$102M$102MDec 8
6Apex Vest Capital rookieFinanceCO$100MindefiniteDec 12
7Blue Core Securities Inc. rookieFinanceNY$100MindefiniteDec 9
8Future Investment Tech Inc. rookieFinanceCO$100MindefiniteDec 11
9Strahlender Glanz INC. rookieFinanceNY$100MindefiniteDec 11
10BlossomHill Therapeutics, Inc.Bio & HealthCA$84.2M$84.2MDec 10
11Edison Scientific, Inc. rookieTechCA$65.9M$68.9MDec 9
12ConductorOne, Inc.TechCA$65M$65MDec 10
13Liberation Bioindustries, Inc.TechNY$60.2M$102MDec 10
14Northrim Bancorp Inc rookieFinanceAK$60M$60MDec 11
15Zeno Power Systems, Inc. rookieTechWA$53.8M$53.9MDec 12
16Verrica Pharmaceuticals Inc.Bio & HealthPA$50M$50MDec 10
17General Fusion Inc.EnergyIntl$38.2M$50MDec 10
18Electron Exchange Holdings, Inc. rookieTechIL$36.5M$36.5MDec 9
19Relation Therapeutics Inc.Bio & HealthFL$36.2M$36.2MDec 9
20Bobyard, Inc.OpenCA$35.3M$35.3MDec 10
21Amani Therapeutics, Inc. rookieBio & HealthNY$31.1M$31.1MDec 10
22Onehop Inc rookieTechCA$30M$30MDec 9
23ZincFive, Inc.EnergyOR$28.9M$30MDec 8
24Lightship Energy, Inc.TechCO$26.6M$35MDec 9
25SD Timber Parent, LP rookieReal EstateGA$25.3MindefiniteDec 10

By league

LeagueRaisedRaises
Tech$2.77B55
Energy$548M11
Finance$502M14
Real Estate$337M60
Bio & Health$277M20
Open$190M76
Main Street$25.8M13

By state

StateRaisedRaises
California$2.57B37
Texas$528M23
New York$394M22
Colorado$238M7
Ohio$132M5
Virginia$116M6
Washington$93.3M10
Georgia$64.7M5
Alaska$60M1
International$59.6M17
Pennsylvania$53.2M3
Florida$49.4M11
Illinois$48.1M8
Massachusetts$31.5M8
Maryland$31.2M8

Rookies

First Form D ever filed.

#CompanyLeagueStateRaisedRaisingFiled
1Synopsys Inc rookieTechCA$2B$2BDec 8
2Ohio Equity Fund for Housing Limited Partnership 35B rookieReal EstateOH$102M$102MDec 8
3Apex Vest Capital rookieFinanceCO$100MindefiniteDec 12
4Blue Core Securities Inc. rookieFinanceNY$100MindefiniteDec 9
5Future Investment Tech Inc. rookieFinanceCO$100MindefiniteDec 11
6Strahlender Glanz INC. rookieFinanceNY$100MindefiniteDec 11
7Edison Scientific, Inc. rookieTechCA$65.9M$68.9MDec 9
8Northrim Bancorp Inc rookieFinanceAK$60M$60MDec 11
9Zeno Power Systems, Inc. rookieTechWA$53.8M$53.9MDec 12
10Electron Exchange Holdings, Inc. rookieTechIL$36.5M$36.5MDec 9

Fund League

$8.40B across 215 funds.

#CompanyStateRaisedRaisingFiled
1Ares Credit Secondaries (Unlevered) LP rookieCT$3.20BindefiniteDec 9
2AQR Leelanau Fund, L.P. rookieCT$750MindefiniteDec 11
3Monticelloam Funding LLC Series SH-97 rookieNY$625M$625MDec 9
4BroadRiver Life Settlements Credit Fund II LP rookieNY$533M$533MDec 11
5SBS-2026, a series of Strategic Buyout Series Fund, L.P. rookieVA$385MindefiniteDec 10
6Canyon Residential Credit Strategies, LP rookieTX$281MindefiniteDec 9
7DoubleLine Income Portfolio rookieMA$257MindefiniteDec 10
8Golub Capital Lake Shore Fund, L.P. rookieIL$210M$210MDec 12
9ArrowMark CRE Structured Finance Main Fund II LP rookieCO$175M$500MDec 11
10BDT & MSD Senior Lending - Brown Advisory Founders (TE), LLLP rookieMD$125MindefiniteDec 11
All 249 raises this week
#CompanyLeagueStateRaisedRaisingFiled
26First State Bancorp IncFinanceOH$25M$25MDec 9
27Chestnut Oak Ridge Coal Opportunity Fund, L.P. rookieReal EstateGA$24.5M$24.6MDec 9
28Aqueduct Software, Inc.OpenCA$21.9M$21.9MDec 12
29NextCure, Inc.Bio & HealthMD$21.5M$21.5MDec 10
30Drink Recess Inc.OpenNY$20.9M$28.2MDec 9
31Inngest Inc.TechMI$20.5M$20.5MDec 11
32Fourth Edge LLC rookieBio & HealthNY$20M$20MDec 12
33Verkada Inc.TechCA$20M$40MDec 9
34Fictions, Inc. rookieTechCA$16.7M$16.7MDec 11
35University 3000 LLC rookieReal EstateWI$15.8M$15.8MDec 8
36Capstone Green Energy Holdings, Inc.EnergyCA$15M$15MDec 10
37Ridwell, Inc. rookieTechWA$15M$15MDec 10
38Leaselot, Inc.TechNY$14.5M$15MDec 11
39Homecourt, Inc. rookieOpenCA$14.1M$14.1MDec 12
40HFS Mineral Partners VI, LP rookieReal EstateTX$14M$14MDec 10
41Yorba Linda Altrudy II LP rookieReal EstateCA$13.6M$13.6MDec 11
42Glia AI, Inc. rookieTechMA$13.4M$13.5MDec 8
43Cambridge West 5 LLC rookieReal EstateMA$12.7M$12.7MDec 9
44Renew Residential, Inc.TechNY$12.3M$12.4MDec 8
45SD Timber Blocker, LLC rookieReal EstateGA$12.1MindefiniteDec 10
46Colorcast, Inc.TechTX$10.4M$10.4MDec 10
47Scowtt Inc. rookieOpenWA$10.2M$12MDec 8
48Rilian Technologies, Inc. rookieTechVA$10M$12MDec 12
49SPI Canopy Equity DE, LLC rookieReal EstateTX$8.6M$9MDec 9
50Minnesota Medical Technologies CorpBio & HealthMN$8.3M$17MDec 10
51Lx LLC rookieMain StreetDC$7.6M$7.6MDec 10
52PointOne Elise AI LLC rookieTechCA$7.6M$7.6MDec 9
53Cosmos Fund LLCOpenFL$7.5MindefiniteDec 9
54Everygene, PBC rookieTechCT$7.4M$7.4MDec 11
55xTAO Inc. rookieOpenIntl$7.3M$7.3MDec 10
56All Pro Cottages At Kettle Creek LLLP rookieReal EstateCO$7.2M$11.2MDec 11
57Starfish Specialty Programs Holdings Corp. rookieFinanceDE$7M$7MDec 12
58Upside Auctions Holdings LLC rookieReal EstateTX$7M$7MDec 12
59Live Oak Deep 3-D Joint Venture rookieEnergyTX$6.8M$6.8MDec 10
60AX Essential Retail Portfolio, DST rookieReal EstateNY$6.7M$91.5MDec 11
61Cresilon, Inc.Bio & HealthNY$6.7M$6.7MDec 8
62Buhl 6000 Nathan, LLC rookieReal EstateMN$6.3M$6.3MDec 10
63VKL Research, Inc. rookieTechCA$6.3M$6.3MDec 8
64Nuevo Silver Inc. rookieOpenIntl$6M$6MDec 9
65IREX IV Industrial Portfolio DST rookieReal EstateTX$5.5M$94MDec 10
66P1 Trials, Inc.Main StreetWA$5.5M$5.5MDec 9
67Astor Gold Pref LLC rookieReal EstateNY$5.2M$7.4MDec 11
68Farmer Companies, LLC rookieMain StreetVT$5M$5MDec 11
69HighTechLending Inc. rookieFinanceCA$5M$5MDec 9
70Taiwan Global Ventures, L.P. - Series 1 rookieOpenCA$5M$10MDec 11
71Mogul Services Inc. rookieOpenCA$4.9M$4.9MDec 10
72Shamrock Apartments LLC rookieReal EstateOH$4.9M$5MDec 11
73Aspire La Jolla Class A, LLC rookieReal EstateTX$4.9M$4.9MDec 10
74Milarel LP rookieReal EstateNY$4.5MindefiniteDec 9
75Confido Inc.OpenWA$4.5M$4.5MDec 10
76ACP 1600 Central LLC rookieReal EstateCA$4.4M$4.6MDec 10
77NeuroBionics Inc. rookieTechMA$4.2M$4.2MDec 10
78Armonica Technologies, Inc.Bio & HealthNM$4.2M$5.7MDec 8
79Cimarron Hills EB-5 Fund, LP rookieReal EstateTX$4M$16MDec 9
80Acretrader 210, LLC rookieReal EstateAR$3.9M$3.9MDec 11
81Frontier Campground Investors, LLC rookieOpenWY$3.8MindefiniteDec 9
82Baekeland Sidecar OI LP rookieReal EstateMD$3.8M$3.8MDec 12
83Sfvii, LLP rookieMain StreetIA$3.6M$100MDec 8
84ProCode Inc. rookieOpenCA$3.6M$4MDec 11
85Mountain View Hospital, LLC rookieBio & HealthID$3.4MindefiniteDec 10
86Monarch LBC LLC rookieReal EstateTX$3.4M$3.4MDec 12
87Old Tom, Inc. rookieOpenCO$3.2M$8.2MDec 8
88PG Larkinville, LLC rookieReal EstateNY$3.2M$3.2MDec 9
89HEVA Inc. rookieTechNY$3.1M$3.1MDec 8
90Cellphire, Inc.Bio & HealthMD$3M$3MDec 11
91Chilean Cobalt Corp.EnergyPA$3M$3MDec 8
92Strategic Management, LLC rookieTechIL$3M$3MDec 8
93Essential Net Lease Industrial 104 DST rookieReal EstateCA$2.9M$4.8MDec 9
94Detect Auto Inc. rookieTechND$2.9M$3.2MDec 9
95Vast, a series of Jason's Syndicate, LLC rookieOpenUT$2.9M$2.9MDec 9
96Opine Market, Inc.TechNC$2.8M$3MDec 9
97Scg Lmr, LLC rookieReal EstateCA$2.8M$3.7MDec 12
98REVV Hayden Investor, LLC rookieReal EstateAZ$2.7M$2.7MDec 8
9929th Station Holdco LLC rookieOpenIL$2.6M$2.6MDec 8
100JBK Holdings, LLC rookieBio & HealthTN$2.5M$8.5MDec 8
101Ondalinda Productions, Inc. rookieTechCA$2.5M$2.5MDec 10
102Thunder Mountain Gold IncOpenID$2.5M$4.5MDec 8
103Windy Financial LLC rookieTechDE$2.5M$2.5MDec 12
104Barnwell Industries Inc rookieEnergyHI$2.4M$2.4MDec 12
105Copaur Minerals Inc.OpenIntl$2.3M$2.3MDec 9
106CISO Global, Inc.OpenAZ$2.3M$15MDec 10
1071888 Holdings, LLC rookieReal EstateSD$2.3M$3MDec 10
108Stuart 2024, LLC rookieReal EstateWA$2.2M$2.2MDec 12
109Woodland R LLC rookieReal EstateMD$2.2M$3.4MDec 11
110KYS Vision, Inc. rookieTechNY$2.2M$3.3MDec 12
111Integro Bank rookieFinanceAZ$2.1M$6MDec 11
112Vanta Ventures, LLC rookieMain StreetUT$2.1M$4MDec 12
113Ariva Apts, LLCOpenTX$2M$2MDec 8
114SiteLabs Inc. rookieBio & HealthSC$2M$2.5MDec 8
115ClearDynamic Inc. rookieBio & HealthIntl$2M$2MDec 11
116Kite Topco Inc.OpenNY$1.9M$10MDec 10
117Gaingels Neurophos 2025 LLC rookieOpenVT$1.9M$1.9MDec 8
118Brittmoore Nessco Industrial, LLC rookieReal EstateTX$1.9MindefiniteDec 8
119Noblestone Credit Select II LLC rookieReal EstateMI$1.9M$25MDec 11
120Ringmaster Technologies, Inc.TechFL$1.8M$5.5MDec 11
121109 Doors Nursery LLC rookieReal EstateTX$1.7M$5MDec 12
122Professional Diversity Network, Inc.TechIL$1.6M$1.6MDec 8
123Professional Diversity Network, Inc.TechIL$1.6M$1.6MDec 8
124Centra North Fund IV, LLC rookieReal EstateMN$1.5M$15MDec 10
125Sora Schools, Inc.TechGA$1.5M$7MDec 10
126Albatross Golf, Inc. rookieOpenKS$1.5M$3.1MDec 8
127UncommonX Inc.TechIL$1.5M$4.2MDec 12
128Entrokey Labs Inc. rookieOpenVA$1.4M$1.4MDec 12
129Carlton Ford LLC rookieReal EstateGA$1.3M$1.3MDec 11
130Cu Direct CorpOpenCA$1.2M$21.1MDec 12
131Otter Point 2024 LLC rookieReal EstateWA$1.1M$1.1MDec 10
132Ultra Rare Earth Inc.OpenFL$1.1M$1.5MDec 10
133Spacestation 88, a series of Spacestation Investments 1, LLC rookieOpenUT$1.1M$1.1MDec 11
134Nuevo Silver Inc. rookieOpenIntl$1.1M$1.1MDec 9
135North America Lithium & Gold Corp rookieOpenIL$1.1M$4MDec 9
136Fiddlers Green RAL LLC rookieReal EstateTX$1.1M$1.1MDec 11
137Capital Defense Technologies LLCTechVA$1M$1MDec 11
138HighTechLending Inc. rookieFinanceCA$1M$1MDec 9
139Ordo Sports, Inc. rookieTechNC$1M$1MDec 10
140Scaffold Fremont LLC rookieReal EstateCT$976K$1.1MDec 9
141Afterburner Capital Defense Fund I, LP rookieOpenFL$975K$975KDec 9
142Division Holdings, LLC rookieReal EstateFL$925K$925KDec 11
143Bala Enzyme Inc.OpenCA$921K$1.4MDec 11
144MVG Rise NC Portfolio Fund LLC rookieReal EstateAZ$898K$1MDec 10
145SonarSource, Inc rookieTechTX$824KindefiniteDec 10
146Wholemax Inc.OpenFL$810K$2.8MDec 12
147Lhb IncOpenMN$776K$1.3MDec 9
148Circle R Ranch FM LLC rookieReal EstateTX$775K$5.5MDec 9
149Photonics QP I, a series of Wefunds LLC rookieOpenNV$766KindefiniteDec 9
150North Investments Co LLC rookieFinanceTX$760KindefiniteDec 10
151AE Wolfcamp I Investor Inc. rookieEnergyTX$750K$750KDec 12
152Southeast Idaho Storage 1, LLC rookieOpenCA$735KindefiniteDec 10
153Telos Biotech Inc.Bio & HealthTX$725K$2.2MDec 12
154MIPTW Inc rookieMain StreetLA$696K$1MDec 9
155Ashburn Creek Fault LPEnergyTN$665K$665KDec 9
156MSBK Ark 2025 LLC rookieReal EstateDE$650K$1MDec 8
157Consolidated Lithium Metals Inc. rookieOpenIntl$642K$1.7MDec 10
158Blom Inc rookieOpenMN$635K$2.8MDec 10
159South Campus Surgery Center LLCBio & HealthIN$633K$633KDec 9
160Fincretive LLCTechID$600K$3.8MDec 12
161Naiad Inc.TechAL$600K$2MDec 8
162EarthOptics, a series of Jason's Syndicate, LLC rookieOpenUT$554K$554KDec 9
163Boston Ramen Company, Inc. rookieMain StreetMA$528K$582KDec 10
164Series 8-1, a series of StartEngine Private Funds LLC rookieOpenCA$520K$1.9MDec 11
165Blazon Heaters Inc. rookieTechWA$508K$1.1MDec 9
166Guidance Short-Term Income Trust rookieReal EstateMD$508K$300MDec 11
167Chalkstone Apartments, LLC rookieReal EstateMA$500K$1MDec 11
168Citizen Energy 2025 Drilling Fund LP rookieEnergyOK$500K$2MDec 11
169CouchLabs Technologies Inc. rookieTechWA$500KindefiniteDec 8
170HighTechLending Inc. rookieFinanceCA$500K$500KDec 9
171Nudj Health, Inc.TechTX$500K$2MDec 9
172Threefold Pine Bridge LLC rookieReal EstateOH$500K$4.8MDec 11
173Autolane, a series of Jason's Syndicate, LLC rookieOpenUT$491K$491KDec 9
174Kingsmen Resources Ltd.OpenIntl$481K$819KDec 10
175Cosa Resources Corp.OpenIntl$472K$837KDec 12
176Gaingels Array Labs OCT 2025 LLC rookieOpenVT$467K$467KDec 8
177Series 75-1, a series of StartEngine Private LLC rookieOpenCA$466K$865KDec 9
178RW Ventures VII, a series of Rigby & Watts Capital Ventures, LLC rookieOpenUT$461K$461KDec 11
179Fern Valley Partners LLC rookieReal EstateKY$456K$830KDec 12
180Onarock MV 2025C, LLC rookieReal EstateCO$440K$440KDec 11
181IDL, a series of Jason's Syndicate, LLC rookieOpenUT$410K$410KDec 9
182Rarely Co. rookieTechID$400K$3MDec 9
183Runtime I, a series of Wefunds LLC rookieOpenNV$375KindefiniteDec 9
184Series Fund D, a series of UM Pre-IPO Portfolio Fund III LLC rookieOpenNY$375KindefiniteDec 11
185Golden Cariboo Resources Ltd.OpenIntl$361K$2.2MDec 11
186Syntax I, a series of Wefunds LLCOpenNV$353KindefiniteDec 9
187Le Botaniste Corp.Main StreetNY$300KindefiniteDec 8
188Valuenex,inc.TechCA$300K$300KDec 11
189Oncotelic Therapeutics, Inc.Bio & HealthCA$275K$12.5MDec 11
190ReGen Power, a series of Spacestation Investments 1, LLC rookieOpenUT$275K$275KDec 11
191Bloom Spatial, Inc. rookieTechIN$255K$500KDec 11
192BFREE Africa Inc.TechDC$250K$450KDec 8
193Echopoint Medical Ltd rookieBio & HealthIntl$250K$250KDec 10
194High Wheelers Growth Partners, LLC rookieOpenCA$250K$250KDec 12
195Visionairy Technologies, Inc.TechNY$250K$250KDec 8
196cohesionIB, Inc.TechIL$250K$2MDec 8
197Goldera Corp rookieOpenUT$240KindefiniteDec 11
198Gaingels Paradromics LLC rookieOpenVT$235K$235KDec 8
199Everblue Premium Storage LLC rookieReal EstateTX$220K$4MDec 11
200PGIM Private Credit Fund rookieOpenNJ$220K$220KDec 9
201Entertainment Tatts, Inc rookieOpenSC$200K$300KDec 9
202HealthNEXT, LLC rookieBio & HealthPA$200K$2MDec 11
203S2A Modular CorpMain StreetCA$200K$150MDec 12
204StoryPath, LLCTechID$200K$1.3MDec 12
205Therify, Inc.TechTN$200K$700KDec 10
206Raremarq, a series of Jason's Syndicate, LLC rookieOpenUT$177K$177KDec 9
207Ember Sports Inc.OpenAL$175K$5MDec 12
208Inkfish Music Inc. rookieOpenNY$175K$175KDec 10
209Scorpio Gold CorpOpenIntl$145K$145KDec 10
210Kore Infrastructure, LLCEnergyMT$139K$139KDec 12
211General Services Holdings of New York, Inc. rookieOpenNY$130K$130KDec 11
212Korea VM REIT LLC rookieReal EstateIntl$125K$125KDec 9
213MLG Fund VII REIT LLC rookieReal EstateWI$125K$125KDec 11
214Sampension Parkside LLC rookieReal EstateIntl$125K$125KDec 9
215Invea Therapeutics, IncBio & HealthCT$120K$120KDec 10
216HerdDogg, Inc.OpenNE$110KindefiniteDec 12
217Allurean 1, LLC rookieReal EstateOR$100K$7MDec 11
218Fxmode Ltd rookieFinanceCO$100KindefiniteDec 11
219Reno Source, Inc. rookieMain StreetAZ$100K$1.5MDec 10
220Roast Republic, ETC, LLC rookieMain StreetTX$100K$350KDec 12
221CER Holdings, LLC rookieOpenDE$95KindefiniteDec 8
222Colibri Resource CorpOpenIntl$89K$238KDec 12
223Tfo Sports Syndicate Q4 2025 A Series Of Tfo Master LLC rookieOpenMD$85K$85KDec 10
224My City Builders, Inc. rookieReal EstateFL$82K$82KDec 10
225Eo Care With Imbolc Partners A Series Of Master Fund 1 LLC rookieOpenMA$75KindefiniteDec 12
226Artemis Healthcare Fund III REIT, LLC rookieReal EstateMD$69K$125KDec 12
227Shea Residences REIT, LLC rookieReal EstateTX$62K$62KDec 9
228WOMRE Founders REIT, LLC rookieReal EstateOH$62K$62KDec 9
229Edgewood Real Estate Investment TrustReal EstateND$56K$112MDec 9
2305300 Airways Blvd TN REIT, LLC rookieReal EstateMD$54K$125KDec 12
231Knob Hill Owner, LLC rookieOpenNE$50K$2.6MDec 10
232MyndTec Inc.OpenIntl$50K$80KDec 9
233Rentwise Boston, Inc. rookieTechMA$50K$550KDec 8
234vibrantclub, Inc. rookieTechDE$50K$250KDec 8
235Sdf REIT LLC rookieReal EstateNY$49K$125KDec 11
236Morales Chimney Services LLC rookieOpenVA$40K$2MDec 9
237Brooklyn Dumpling Parent Holdings, Inc.OpenNJ$30K$30KDec 10
238Brooklyn Dumpling Parent Holdings, Inc.OpenNJ$25K$25KDec 10
239Immersive Enterprise Laboratories, Inc rookieMain StreetCA$25K$500KDec 12
240Minutes Mojo Inc. rookieTechMA$25K$2MDec 12
241Clean Dough Inc. rookieMain StreetCA$20K$300KDec 8
242Global Interchange, Inc. rookieFinanceCA$20K$1MDec 11
243Perca, Inc.OpenWA$18K$500KDec 9
244Morales Chimney Services LLCOpenVA$10K$500KDec 10
245PSQ Holdings, Inc.OpenFL$10K$10KDec 8
246Storytime Online Inc. rookieOpenRI$10K$50KDec 12
247Vizsla Copper Corp.OpenIntl$7K$7KDec 11
248Relativity Networks, Inc.TechFL$4K$5KDec 12
249Land Invest Corp. rookieReal EstateFL$1K$20MDec 11