How much did US private companies raise in January 2025?
843 companies reported raises totalling $10.8bn on SEC Form D in January 2025. Technology was the largest sector at $2.4bn, and NY the largest state at $2.8bn. Amounts are as reported by the issuers; pooled funds are excluded.
Which industries raised the most?
Technology led with $2.4bn across 239 raises. Industries follow the SEC's own groups, folded into 7 buckets.
| Industry | Raises | Total | Share |
|---|---|---|---|
| Technology | 239 | $2.4bn | 22% |
| Consumer & industrial | 50 | $2.1bn | 19% |
| Real estate | 199 | $2.1bn | 19% |
| Finance | 37 | $1.3bn | 12% |
| Other | 180 | $1.3bn | 12% |
| Health | 116 | $1.3bn | 12% |
| Energy | 22 | $391m | 4% |
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 |
|---|---|---|---|---|
| Wonder Group, Inc. | New York, NY | Consumer & industrial | 14 Jan 2025 | $1.1bn |
| PACIFIC LIFE INSURANCE CO | Newport Beach, CA | Finance | 9 Jan 2025 | $955m |
| Immunovant, Inc. | New York, NY | Health | 15 Jan 2025 | $450m |
| Speedway Holdings, L.P. | New York, NY | Other | 27 Jan 2025 | $441m |
| New Precision Parent, LLC | Charlotte, NC | Consumer & industrial | 21 Jan 2025 | $419m |
| Apptronik, Inc | Austin, TX | Technology | 31 Jan 2025 | $403m |
| ADREX Diversified 8 DST | Denver, CO | Real estate | 24 Jan 2025 | $395m |
| Grammarly, Inc. | San Francisco, CA | Technology | 10 Jan 2025 | $348m |
| CCC Intelligent Solutions Holdings Inc. | Chicago, IL | Consumer & industrial | 6 Jan 2025 | $296m |
| Thompson Thrift 2025 Multifamily Development, LP | Indianapolis, IN | Real estate | 15 Jan 2025 | $255m |
| Canvasback Oil & Gas, LP | Midland, TX | Energy | 16 Jan 2025 | $250m |
| HREX 6, DST | Houston, TX | Real estate | 13 Jan 2025 | $246m |
| Discovery Land Consolidated, LLC | Scottsdale, AZ | Real estate | 8 Jan 2025 | $232m |
| Varo Money, Inc. | San Francisco, CA | Finance | 31 Jan 2025 | $124m |
| Vestaron Corp | Durham, NC | Consumer & industrial | 24 Jan 2025 | $82.9m |
| Rad AI, Inc. | San Francisco, CA | Technology | 3 Jan 2025 | $72.9m |
| Curaleaf Holdings, Inc. | Stamford, CT | Other | 17 Jan 2025 | $67m |
| DELOITTE CONSULTING LLP | New York, NY | Other | 10 Jan 2025 | $59m |
| nEye Systems, Inc. | Emeryville, CA | Technology | 29 Jan 2025 | $58m |
| CRA LNK LP | New York, NY | Finance | 22 Jan 2025 | $58m |
| Rivus Pharmaceuticals, Inc. | Charlottesville, VA | Health | 7 Jan 2025 | $57m |
| ICON Technology, Inc. | Austin, TX | Technology | 30 Jan 2025 | $56.2m |
| JONES FINANCIAL COMPANIES LLLP | Des Peres, MO | Finance | 1 Jan 2025 | $55.5m |
| Zeno Power Systems, Inc. | Seattle, WA | Technology | 21 Jan 2025 | $53.8m |
| Liberation Labs Holdings Inc. | New York, NY | Technology | 28 Jan 2025 | $52m |
Which states raised the most?
NY led with $2.8bn across 108 raises.
| State | Raises | Total |
|---|---|---|
| NY | 108 | $2.8bn |
| CA | 130 | $2.4bn |
| TX | 92 | $1.5bn |
| CO | 37 | $690m |
| NC | 25 | $618m |
| IL | 14 | $334m |
| IN | 4 | $266m |
| AZ | 13 | $254m |
| MA | 35 | $240m |
| UT | 18 | $185m |
| FL | 49 | $174m |
| VA | 16 | $169m |
| WA | 29 | $165m |
| CT | 6 | $121m |
| TN | 18 | $84.9m |
| PA | 25 | $75.9m |
| MO | 8 | $72.5m |
| DE | 18 | $69m |
| OH | 22 | $65.7m |
| IA | 5 | $62.3m |
| WI | 8 | $55.3m |
| MI | 15 | $54.2m |
| MN | 17 | $49.4m |
| DC | 7 | $42.9m |
| OK | 5 | $36.2m |