How much did US private companies raise in March 2023?
1,038 companies reported raises totalling $17.8bn on SEC Form D in March 2023. Other was the largest sector at $8.2bn, and CA the largest state at $8.9bn. Amounts are as reported by the issuers; pooled funds are excluded.
Which industries raised the most?
Other led with $8.2bn across 224 raises. Industries follow the SEC's own groups, folded into 7 buckets.
| Industry | Raises | Total | Share |
|---|---|---|---|
| Other | 224 | $8.2bn | 46% |
| Technology | 300 | $2.8bn | 16% |
| Health | 163 | $2.5bn | 14% |
| Finance | 59 | $1.7bn | 9% |
| Real estate | 191 | $1.5bn | 8% |
| Consumer & industrial | 74 | $1bn | 6% |
| Energy | 27 | $188m | 1% |
What were the largest raises?
The 25 largest filings of the month, with the issuer's own SEC record linked where the filing index is known.
| Company | Where | Industry | Date | Amount |
|---|---|---|---|---|
| Stripe, Inc. | South San Francisco, CA | Other | 15 Mar 2023 | $6.9bn |
| FMR LLC | Boston, MA | Finance | 31 Mar 2023 | $818m |
| SEI Holding I LP | Dallas, TX | Consumer & industrial | 27 Mar 2023 | $403m |
| reAlpha Tech Corp. | Dublin, OH | Technology | 21 Mar 2023 | $401m |
| Siprocal, Inc | Dallas, TX | Technology | 7 Mar 2023 | $380m |
| PacketFabric, Inc. | Culver City, CA | Technology | 24 Mar 2023 | $373m |
| TLB Holdings I, LLC | New York, NY | Consumer & industrial | 1 Mar 2023 | $330m |
| First National Bancshares, Inc. | East Lansing, MI | Finance | 15 Mar 2023 | $325m |
| United Digestive Holdings, LLC | Atlanta, GA | Health | 30 Mar 2023 | $323m |
| ADREX Diversified 3 DST | Denver, CO | Real estate | 20 Mar 2023 | $224m |
| HeartFlow Holding, Inc. | Mountain View, CA | Health | 2 Mar 2023 | $216m |
| KoBold Metals Co | Birmingham, AL | Other | 21 Mar 2023 | $195m |
| Tune Therapeutics, Inc. | Seattle, WA | Health | 9 Mar 2023 | $182m |
| VEDANTA BIOSCIENCES, INC. | Cambridge, MA | Health | 1 Mar 2023 | $119m |
| NGF Holdings, LLC | Malibu, CA | Finance | 14 Mar 2023 | $118m |
| Global Federal Credit Union | Anchorage, AK | Finance | 23 Mar 2023 | $110m |
| Alera Group Ultimate Holdings, LLC | Deerfield, IL | Other | 31 Mar 2023 | $100m |
| Ecoark Holdings, Inc. | San Antonio, TX | Other | 6 Mar 2023 | $100m |
| Marcella Golf Club LLC | Lehi, UT | Other | 10 Mar 2023 | $100m |
| Caliber Hospitality, LP | Scottsdale, AZ | Real estate | 31 Mar 2023 | $83.7m |
| Lenz Therapeutics, Inc. | Del Mar, CA | Health | 6 Mar 2023 | $83.5m |
| ALIMERA SCIENCES INC | Alpharetta, GA | Health | 24 Mar 2023 | $81m |
| ROM Technologies, Inc. | Brookfield, CT | Health | 2 Mar 2023 | $80.7m |
| Therini Bio, Inc. | Sacramento, CA | Health | 29 Mar 2023 | $74.9m |
| Cart.com, Inc. | Austin, TX | Technology | 14 Mar 2023 | $68.6m |
Which states raised the most?
CA led with $8.9bn across 177 raises.
| State | Raises | Total |
|---|---|---|
| CA | 177 | $8.9bn |
| MA | 50 | $1.3bn |
| TX | 87 | $1.3bn |
| NY | 93 | $993m |
| GA | 31 | $576m |
| OH | 18 | $472m |
| WA | 53 | $468m |
| CO | 50 | $424m |
| MI | 17 | $366m |
| FL | 62 | $282m |
| IL | 24 | $265m |
| AZ | 23 | $229m |
| AL | 6 | $214m |
| NC | 26 | $191m |
| VA | 19 | $175m |
| PA | 29 | $175m |
| MN | 23 | $142m |
| CT | 13 | $120m |
| AK | 2 | $114m |
| UT | 10 | $108m |
| TN | 18 | $99.6m |
| DE | 15 | $92.9m |
| NJ | 16 | $81.2m |
| MD | 15 | $76.1m |
| SC | 12 | $64.1m |