How much did US private companies raise in August 2025?
832 companies reported raises totalling $12.5bn on SEC Form D in August 2025. Technology was the largest sector at $4.1bn, and CA the largest state at $2.9bn. Amounts are as reported by the issuers; pooled funds are excluded.
Which industries raised the most?
Technology led with $4.1bn across 264 raises. Industries follow the SEC's own groups, folded into 7 buckets.
| Industry | Raises | Total | Share |
|---|---|---|---|
| Technology | 264 | $4.1bn | 32% |
| Other | 181 | $2.4bn | 19% |
| Finance | 53 | $2.1bn | 16% |
| Health | 101 | $1.8bn | 15% |
| Real estate | 157 | $1.4bn | 11% |
| Energy | 21 | $578m | 5% |
| Consumer & industrial | 55 | $201m | 2% |
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 |
|---|---|---|---|---|
| PACIFIC LIFE INSURANCE CO | Newport Beach, CA | Finance | 7 Aug 2025 | $1.2bn |
| Quantinuum | Broomfield, CO | Technology | 15 Aug 2025 | $839m |
| Verb Technology Company, Inc. | Las Vegas, NV | Technology | 7 Aug 2025 | $558m |
| GI ALLIANCE HOLDINGS, LLC | Southlake, TX | Other | 12 Aug 2025 | $490m |
| Sharps Technology Inc. | Melville, NY | Health | 28 Aug 2025 | $411m |
| Castelion Corp | Torrance, CA | Technology | 8 Aug 2025 | $360m |
| BTA 22504 Big Horn LLC | Midland, TX | Energy | 19 Aug 2025 | $350m |
| ISQ Open Infrastructure Co LLC | Miami, FL | Other | 28 Aug 2025 | $339m |
| Compass, Inc. | New York, NY | Real estate | 28 Aug 2025 | $255m |
| Capital Rx, Inc. | New York, NY | Other | 12 Aug 2025 | $231m |
| Heritage Distilling Holding Company, Inc. | Gig Harbor, WA | Other | 15 Aug 2025 | $224m |
| Elise A.I. Technologies Corp. | New York, NY | Technology | 5 Aug 2025 | $210m |
| Hermeus Corp | Atlanta, GA | Other | 29 Aug 2025 | $201m |
| Treeline Biosciences, Inc. | Watertown, MA | Health | 21 Aug 2025 | $200m |
| Apex Technology, Inc. | Los Angeles, CA | Other | 29 Aug 2025 | $152m |
| DeFi Development Corp. | Boca Raton, FL | Finance | 24 Aug 2025 | $124m |
| Wugen, Inc. | St. Louis, MO | Health | 22 Aug 2025 | $123m |
| USBC, Inc. | Reno, NV | Technology | 6 Aug 2025 | $120m |
| Emory Peak Holdings VI, LLC | Houston, TX | Energy | 11 Aug 2025 | $106m |
| Overhaul Group, Inc. | Austin, TX | Technology | 18 Aug 2025 | $105m |
| Glydways, Inc. | South San Francisco, CA | Technology | 29 Aug 2025 | $101m |
| HORIZON BANCORP INC /IN/ | Michigan City, IN | Finance | 29 Aug 2025 | $100m |
| SMARTFINANCIAL INC. | Knoxville, TN | Finance | 20 Aug 2025 | $100m |
| ATS Holdings, LLC | New York, NY | Finance | 29 Aug 2025 | $100m |
| Robotic Research OpCo, LLC | Clarksburg, MD | Technology | 11 Aug 2025 | $93.3m |
Which states raised the most?
CA led with $2.9bn across 128 raises.
| State | Raises | Total |
|---|---|---|
| CA | 128 | $2.9bn |
| NY | 74 | $1.9bn |
| TX | 76 | $1.5bn |
| CO | 38 | $949m |
| FL | 57 | $912m |
| NV | 10 | $840m |
| MA | 46 | $565m |
| GA | 20 | $424m |
| WA | 30 | $290m |
| NC | 20 | $230m |
| TN | 9 | $179m |
| MO | 14 | $179m |
| IL | 28 | $172m |
| DE | 43 | $141m |
| VA | 19 | $125m |
| MD | 12 | $123m |
| AZ | 13 | $119m |
| IN | 4 | $116m |
| MN | 12 | $109m |
| CT | 8 | $97.6m |
| PA | 14 | $90.9m |
| WI | 13 | $82.4m |
| OH | 13 | $70.3m |
| NJ | 19 | $54.2m |
| ID | 7 | $50.1m |