How much did US private companies raise in May 2023?
1,034 companies reported raises totalling $10.7bn on SEC Form D in May 2023. Consumer & industrial was the largest sector at $2.9bn, and MA the largest state at $2.6bn. Amounts are as reported by the issuers; pooled funds are excluded.
Which industries raised the most?
Consumer & industrial led with $2.9bn across 75 raises. Industries follow the SEC's own groups, folded into 7 buckets.
| Industry | Raises | Total | Share |
|---|---|---|---|
| Consumer & industrial | 75 | $2.9bn | 27% |
| Technology | 316 | $2.4bn | 22% |
| Health | 139 | $1.9bn | 18% |
| Other | 235 | $1.7bn | 16% |
| Real estate | 191 | $1.1bn | 10% |
| Finance | 46 | $577m | 5% |
| Energy | 32 | $144m | 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 |
|---|---|---|---|---|
| Talen Energy Corp | The Woodlands, TX | Consumer & industrial | 17 May 2023 | $1.4bn |
| ALKU Holdings, LLC | Andover, MA | Consumer & industrial | 23 May 2023 | $961m |
| Cengage Learning Holdings II, Inc. | Boston, MA | Technology | 22 May 2023 | $525m |
| Silk Holdings I Corp. | Boston, MA | Other | 1 May 2023 | $348m |
| SageSure LLC | Jersey City, NJ | Finance | 15 May 2023 | $240m |
| Gradiant Corp | Woburn, MA | Other | 5 May 2023 | $225m |
| MAIN STREET RURAL, INC. | Nashville, TN | Health | 19 May 2023 | $190m |
| Carmot Therapeutics Inc. | Berkeley, CA | Health | 24 May 2023 | $150m |
| Rarestep, Inc. | Birmingham, AL | Technology | 22 May 2023 | $145m |
| Eikon Therapeutics, Inc. | Hayward, CA | Health | 18 May 2023 | $141m |
| Renibus Therapeutics, Inc. | Southlake, TX | Health | 25 May 2023 | $111m |
| Measurabl, Inc. | San Diego, CA | Consumer & industrial | 31 May 2023 | $92.6m |
| Plaza at Preston Road, LLC | Mckinney, TX | Real estate | 10 May 2023 | $83.5m |
| Quanta Therapeutics, Inc. | San Francisco, CA | Health | 10 May 2023 | $76.2m |
| ExchangeRight Net-Leased Portfolio 63 DST | Pasadena, CA | Real estate | 26 May 2023 | $75.1m |
| UC Holdings, Inc. | Southfield, MI | Consumer & industrial | 24 May 2023 | $75m |
| NewLimit, Inc. | South San Francisco, CA | Health | 8 May 2023 | $72.2m |
| Bond Brand Parent, LLC | Denver, CO | Consumer & industrial | 1 May 2023 | $66.3m |
| X4 Pharmaceuticals, Inc | Boston, MA | Health | 18 May 2023 | $65m |
| CSLC Ultimate Holdings, LLC | Petoskey, MI | Health | 25 May 2023 | $60.5m |
| Kustomer, Inc. | Short Hills, NJ | Other | 15 May 2023 | $60m |
| LaLa Land Kind Cafe, LLC | Dallas, TX | Consumer & industrial | 31 May 2023 | $60m |
| Corner Therapeutics, Inc. | Watertown, MA | Health | 31 May 2023 | $58.5m |
| TIDE ROCK YIELDCO, LLC | Solana Beach, CA | Other | 22 May 2023 | $53m |
| Betr Holdings, Inc. | Miami, FL | Technology | 5 May 2023 | $50.7m |
Which states raised the most?
MA led with $2.6bn across 53 raises.
| State | Raises | Total |
|---|---|---|
| MA | 53 | $2.6bn |
| TX | 104 | $2.1bn |
| CA | 170 | $1.8bn |
| NY | 98 | $590m |
| NJ | 24 | $423m |
| FL | 50 | $289m |
| TN | 15 | $262m |
| CO | 58 | $229m |
| IL | 29 | $187m |
| AL | 9 | $186m |
| MI | 17 | $177m |
| AZ | 25 | $153m |
| VA | 23 | $152m |
| WA | 42 | $150m |
| MN | 25 | $133m |
| MD | 20 | $110m |
| OH | 22 | $104m |
| GA | 17 | $104m |
| DE | 15 | $95.8m |
| NV | 9 | $95.6m |
| NC | 25 | $91.7m |
| PA | 28 | $79.4m |
| CT | 14 | $60.6m |
| UT | 15 | $54.6m |
| WI | 10 | $49.8m |