How much did US private companies raise in September 2023?
855 companies reported raises totalling $8.6bn on SEC Form D in September 2023. Technology was the largest sector at $2.9bn, and CA the largest state at $3.9bn. Amounts are as reported by the issuers; pooled funds are excluded.
Which industries raised the most?
Technology led with $2.9bn across 226 raises. Industries follow the SEC's own groups, folded into 7 buckets.
| Industry | Raises | Total | Share |
|---|---|---|---|
| Technology | 226 | $2.9bn | 33% |
| Health | 107 | $1.9bn | 22% |
| Real estate | 148 | $1.4bn | 17% |
| Other | 187 | $1bn | 12% |
| Energy | 28 | $801m | 9% |
| Finance | 104 | $314m | 4% |
| Consumer & industrial | 55 | $277m | 3% |
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 |
|---|---|---|---|---|
| Databricks, Inc. | San Francisco, CA | Technology | 14 Sep 2023 | $685m |
| ImmunityBio, Inc. | San Diego, CA | Health | 11 Sep 2023 | $470m |
| Adamantium Capital LLC | Irvine, CA | Energy | 29 Sep 2023 | $399m |
| Shield AI Inc | San Diego, CA | Technology | 13 Sep 2023 | $281m |
| ADREX Diversified 4 DST | Denver, CO | Real estate | 28 Sep 2023 | $226m |
| MAPS Public Benefit Corp | San Jose, CA | Health | 15 Sep 2023 | $215m |
| Avalyn Pharma Inc. | Seattle, WA | Health | 22 Sep 2023 | $189m |
| AI Software, LLC | St. Louis, MO | Technology | 22 Sep 2023 | $182m |
| Farmer's Business Network, Inc. | San Carlos, CA | Technology | 29 Sep 2023 | $155m |
| Sutherland Timber Parent, LP | Atlanta, GA | Real estate | 11 Sep 2023 | $152m |
| BKV Corp | Denver, CO | Energy | 26 Sep 2023 | $150m |
| STOKE Space Technologies, Inc. | Kent, WA | Technology | 15 Sep 2023 | $146m |
| Waveland Resource Partners VII, LP | Irvine, CA | Energy | 12 Sep 2023 | $131m |
| Olema Pharmaceuticals, Inc. | San Francisco, CA | Health | 5 Sep 2023 | $130m |
| AeroVironment Inc | Arlington, VA | Consumer & industrial | 15 Sep 2023 | $109m |
| Iambic Therapeutics, Inc. | San Diego, CA | Health | 29 Sep 2023 | $103m |
| Scilex Holding Co | Palo Alto, CA | Health | 21 Sep 2023 | $102m |
| Cottonwood Communities, Inc. | Salt Lake City, UT | Real estate | 22 Sep 2023 | $99.9m |
| Inceptive Nucleics, Inc. | Palo Alto, CA | Other | 6 Sep 2023 | $99.7m |
| Mach Industries Inc. | Austin, TX | Other | 19 Sep 2023 | $84.1m |
| Evozyne, Inc. | Chicago, IL | Health | 14 Sep 2023 | $81m |
| Verkada Inc. | San Mateo, CA | Technology | 22 Sep 2023 | $80m |
| HREX Multifamily I, DST | Houston, TX | Real estate | 13 Sep 2023 | $79.9m |
| Conquest Research Holdings, LLC | Winston-Salem, NC | Finance | 29 Sep 2023 | $72.7m |
| New AeroFarms, Inc. | Ringgold, VA | Other | 13 Sep 2023 | $70.8m |
Which states raised the most?
CA led with $3.9bn across 212 raises.
| State | Raises | Total |
|---|---|---|
| CA | 212 | $3.9bn |
| TX | 73 | $573m |
| NY | 78 | $476m |
| WA | 28 | $466m |
| CO | 31 | $458m |
| MA | 34 | $330m |
| IL | 26 | $278m |
| VA | 18 | $260m |
| GA | 19 | $220m |
| MO | 10 | $217m |
| FL | 44 | $163m |
| NC | 22 | $135m |
| NJ | 16 | $120m |
| UT | 14 | $119m |
| PA | 25 | $111m |
| WI | 8 | $94.2m |
| MN | 14 | $77.6m |
| OH | 13 | $65.9m |
| DE | 17 | $62.7m |
| NV | 8 | $62.6m |
| OR | 17 | $56.9m |
| IN | 10 | $42.4m |
| KS | 3 | $40m |
| MD | 10 | $39.4m |
| DC | 5 | $37m |