New venture funds filed in January 2025
124 new venture funds and 334 SPVs filed their first Form D with the SEC in January 2025, with $6.62B in total target capital across the 82 funds that stated a size. The largest was 8VC Fund VI, L.P. (8VC) at $998M; California led with 32 new funds; the most common sponsor sectors were AI & ML (22), Cybersecurity (17) and Media, Gaming & Creator (16). New fund filings were up 14% from December 2024 (109).
Updated from SEC Form D filings · How we count · Methodology
- New funds
- 124
- 109 in December
- New SPVs
- 334
- 321 in December
- Target capital
- $6.62B
- across 82 funds with a stated size
- Median fund
- $18.2M
- offering size
- Largest fund
- $998M
- 8VC
- Sponsoring firms
- 107
- most in California
What was the largest venture fund filed in January 2025?
8VC Fund VI, L.P., sponsored by 8VC (TX), with a $998M offering, first filed on Jan 29, 2025. The next largest was Series X Capital Fund I, L.P. (Series X Capital) at $542M.
Which states had the most new venture funds in January 2025?
California (32), Washington (18), New York (16), Florida (14) and Texas (8), counted by the sponsoring firm's home state. California's new funds target $1.85B in total.
What sectors do the firms behind January's new funds invest in?
AI & ML (22), Cybersecurity (17), Media, Gaming & Creator (16), Healthcare (12) and B2B Software (12) lead, by the sectors each sponsoring firm backs. 70 of the 124 funds come from firms with no sector on record yet.
How many SPVs were filed in January 2025?
334 new SPVs and other deal vehicles filed a first Form D in January 2025, against 124 new funds. SPVs are single-deal or co-investment vehicles and are counted separately from funds.
How does January 2025 compare with December 2024?
124 new funds against 109 (+14%), 334 SPVs against 321, and $6.62B of target capital against $15.1B.
Every new venture fund in January 2025
124 funds, largest first. Size is the total offering amount on the fund’s latest Form D; “—” means the filing gives no amount (often an indefinite offering).
| Firm | Fund | Size | State | First filed | Source |
|---|---|---|---|---|---|
| 8VC | 8VC Fund VI, L.P. | $998M | TX | SEC filing | |
| Series X Capital | Series X Capital Fund I, L.P. | $542M | CA | SEC filing | |
| Madrona | Madrona Venture FUND X, L.P. | $490M | WA | SEC filing | |
| TOWN Hall Ventures | TOWN Hall Ventures IV, L.P. | $400M | NY | SEC filing | |
| Curie Bio | Curie Bio Seed Fund II, L.P. | $342M | MA | SEC filing | |
| SV Angel Growth | SV Angel Growth II, L.P. | $330M | CA | SEC filing | |
| TCP Exploration | TCP Exploration Fund 2025, LP | $290M | CA | SEC filing | |
| Trinity Ventures | Trinity Ventures 2024, L.P. | $285M | WA | SEC filing | |
| Madrona | Madrona Acceleration FUND IV, L.P. | $269M | WA | SEC filing | |
| Root Ventures | Root Ventures IV, L.P. | $250M | CA | SEC filing | |
| Elevate Ventures Growth | Elevate Ventures Growth Fund I, L.P. | $200M | IN | SEC filing | |
| Thrive Capital Partners | Thrive Capital Partners IX Growth-E, LLC | $195M | NY | SEC filing | |
| Outsiders | Outsiders Fund III, LP | $150M | CT | SEC filing | |
| Isleview Equity RBIC | Isleview Equity RBIC Fund, L.P. | $125M | MN | SEC filing | |
| Lavrock | Lavrock Venture Fund III, LP | $125M | VA | SEC filing | |
| TWO Bear Capital | TWO Bear Capital FUND II, LP | $123M | MT | SEC filing | |
| Juvo Ventures | Juvo Ventures Fund II, LP | $100M | UT | SEC filing | |
| Vocap Partners IV SBIC | Vocap Partners IV SBIC, L.P. | $80M | FL | SEC filing | |
| Convective Capital | Convective Capital Fund II, L.P. | $75M | CA | SEC filing | |
| SV Skyloom | SV Bootes Fund LP | $75M | CA | SEC filing | |
| Fortson Gen | Fortson Gen I, LP | $75M | WA | SEC filing | |
| Moderne | Moderne Ventures Growth Fund I, L.P. | $74.9M | IL | SEC filing | |
| Salience Capital Partners | Salience Capital Partners Fund I, L.P. | $70M | CA | SEC filing | |
| One Way Ventures | One Way Ventures Fund III-B, L.P. | $60M | MA | SEC filing | |
| One Way Ventures | One Way Ventures Fund III, L.P. | $60M | MA | SEC filing | |
| Virtue | Virtue V2 LP | $55.8M | TX | SEC filing | |
| V0 F1 | V0 F1, LP | $50M | CA | SEC filing | |
| Brilliant Minds | Brilliant Minds Fund, LP | $50M | NY | SEC filing | |
| South Park Commons India | South Park Commons India Fund, LLC | $40M | CA | SEC filing | |
| SV Angel | SV Angel X, L.P. | $40M | CA | SEC filing | |
| Level Ventures | Level Ventures Core Fund II, L.P. | $38.9M | FL | SEC filing | |
| Cf Private Equity Insurance Fund Series Interests of the SALI Multi | Cf Private Equity Insurance Fund Series Interests of the SALI Multi-Series Fund, LP | $33.7M | TX | SEC filing | |
| Technology Operators | Technology Operators Fund IV, L.P. | $32.6M | GA | SEC filing | |
| Atrum Ventures | Atrum Ventures 4, LP | $30.8M | UT | SEC filing | |
| SYON | SYON Capital Partners I LP | $28.7M | CA | SEC filing | |
| Company Ventures | Company Ventures Terrarium Fund I, LP | $25M | NY | SEC filing | |
| The Council | Council Fund II, LP | $25M | WA | SEC filing | |
| Kingsbridge Ventures BVVC | Kingsbridge Ventures BVVC, LP | $25M | NV | SEC filing | |
| DIEM | Diem-Iv, LLC | $20M | FL | SEC filing | |
| Trident Growth Partners | Trident Growth Partners Feeder LLC | $18.6M | TX | SEC filing | |
| Genesis BioCapital | Genesis BioCapital Fund I, LP | $18.5M | TN | SEC filing | |
| Avila | Avila I, L.P. | $18M | FL | SEC filing | |
| Sihtech Diagnostics | Sihtech Diagnostics LLC | $17M | CA | SEC filing | |
| Geek Ventures | Geek Ventures Fund II, LP | $16.1M | NY | SEC filing | |
| Madrona | Madrona x Manager FUND, L.P. | $15.6M | WA | SEC filing | |
| Arithmos VC | Arithmos VC, LP - F1 | $13M | WA | SEC filing | |
| Mastercraft Ventures | Mastercraft Ventures Fund I, LP | $11.5M | WI | SEC filing | |
| Navigate Ventures | Navigate Ventures Fund II, LP | $11.1M | CA | SEC filing | |
| AJAX Tempo Partners | AJAX Tempo Partners LLC | $10M | NJ | SEC filing | |
| DAF | DAF III, LP | $10M | CA | SEC filing | |
| BG Friends | BG Friends, LP - I | $10M | WA | SEC filing | |
| DIEM | Diem-Ii, LLC | $8M | FL | SEC filing | |
| Madrona | Madrona Acceleration IV Manager FUND, L.P. | $7.61M | WA | SEC filing | |
| Terrarium Studio Co | Terrarium Studio Co Holdings, LP | $7.5M | NY | SEC filing | |
| 1809 Capital | 1809 Capital Fund I, L.P. | $7.05M | OH | SEC filing | |
| Balaji | Balaji Rolling Fund, LP - C1 | $7.03M | WA | SEC filing | |
| Caffeinated Capital | Caffeinated Capital Scout Fund IV, LP | $7M | CO | SEC filing | |
| OurCrowd | OurCrowd (Investment in DBricks) L.P. | $6.97M | L3 | SEC filing | |
| Amity | Amity DL Fund, LP | $6.93M | CA | SEC filing | |
| Level Ventures | Level Ventures Core Fund II-Feeder, L.P. | $6.88M | FL | SEC filing | |
| EVL | EVL I LP | $5.78M | NY | SEC filing | |
| Madrona | Madrona Venture FUND X-A, L.P. | $5.77M | WA | SEC filing | |
| Madrona | Madrona Acceleration FUND Iv-A, L.P. | $5.77M | WA | SEC filing | |
| Madrona | Madrona x Entrepreneurs FUND, L.P. | $5.72M | WA | SEC filing | |
| Madrona | Madrona Acceleration IV Entrepreneurs FUND, L.P. | $5.71M | WA | SEC filing | |
| Agdf11 | Agdf11 LP | $5.34M | NY | SEC filing | |
| Lionheart | Lionheart Ventures II, L.P. | $5.24M | CA | SEC filing | |
| Level Ventures | Level Ventures Core Fund II-B Co-Investment, L.P. | $5.09M | FL | SEC filing | |
| Davidovs Venture Capital | Davidovs Venture Capital, LP - D2 | $5.09M | WA | SEC filing | |
| Upfront | Upfront Secondary IV, L.P. | $5M | CA | SEC filing | |
| Allison Pickens Ventures | Allison Pickens Ventures Opportunity Fund I, L.P. | $5M | PA | SEC filing | |
| LongJump Ventures | LongJump Ventures Fund II LP | $5M | IL | SEC filing | |
| Uncommon Projects Capital | Uncommon Projects Capital Management Fund I, LP | $5M | WA | SEC filing | |
| V360 Holdings LLC Series AirCo CCP | V360 Holdings LLC Series AirCo CCP | $5M | NY | SEC filing | |
| Sinewave Ventures | SineWave Ventures Direct 2C, L.P. | $5M | VA | SEC filing | |
| AGDF8 | AGDF8 LP | $4.56M | NY | SEC filing | |
| 922 Capital | 922 Capital Fund LLC Series CV | $4.46M | TX | SEC filing | |
| DIEM | Diem-Vi, LLC | $4.3M | FL | SEC filing | |
| Alter VC | Alter VC Fund, LP - D2 | $4.17M | WA | SEC filing | |
| V360 | V360 Holdings LLC Series DCP 2410C | $3.84M | NC | SEC filing | |
| Sinewave Ventures | SineWave Ventures Direct 2B, L.P. | $3.56M | VA | SEC filing | |
| Newlin Ventures | Newlin Ventures, LP | $3.3M | TX | SEC filing | |
| Las Olas VC | Las Olas VC III FF L.P. | — | FL | SEC filing | |
| Las Olas VC | Las Olas VC III L.P. | — | FL | SEC filing | |
| Blockchange | Blockchange Fund, L.P. (Series '25) | — | FL | SEC filing | |
| Factorial Capital | Factorial Capital II, LP | — | NY | SEC filing | |
| Viewpoint | Viewpoint Ventures FUND II, LP | — | NY | SEC filing | |
| CreationsVC | CreationsVC Fund 2024, LP | — | AZ | SEC filing | |
| Galaxy | Galaxy Opportunistic Fund II, LP | — | NY | SEC filing | |
| Galaxy | Galaxy Opportunistic Fund I, LP | — | NY | SEC filing | |
| Quiet | Quiet EN LP | — | CA | SEC filing | |
| Horizon | Horizon II, LP | — | TX | SEC filing | |
| Open | Open Opportunity FUND 2-M, LP | — | GA | SEC filing | |
| 111 West Capital | 111 West Capital ACS LLC | — | WY | SEC filing | |
| Forum Ventures | Forum Ventures Studio Fund II, L.P. | — | NY | SEC filing | |
| Transcend | Transcend FUND III, LP | — | CA | SEC filing | |
| Ae Industrial Horizonx Venture | Ae Industrial Horizonx Venture FUND II Feeder, LP | — | FL | SEC filing | |
| Pinegrove Sunshine Innovation Perpetual | Pinegrove Sunshine Innovation Perpetual Fund, L.P. | — | CA | SEC filing | |
| Pinegrove Sunshine Innovation Perpetual | Pinegrove Sunshine Innovation Perpetual GP, LLC | — | CA | SEC filing | |
| Backswing Ventures | Backswing Ventures Fund III, LP | — | FL | SEC filing | |
| Four Cities | Four Cities Fund VI, LP | — | CA | SEC filing | |
| Hanabi Capital | Hanabi Capital Fund I, L.P. | — | CA | SEC filing | |
| Contrary | Contrary Capital V-A, L.P. | — | CA | SEC filing | |
| CoFound Partners Venture | CoFound Partners Venture Fund II, LP | — | CO | SEC filing | |
| Good Friends | Good Friends Affiliates Fund III, L.P. | — | CA | SEC filing | |
| Good Friends | Good Friends Fund III, L.P. | — | CA | SEC filing | |
| Oakseed Tech | Oakseed Tech Fund II LP | — | DE | SEC filing | |
| Olympus | Olympus Fund 1, LLC | — | CT | SEC filing | |
| BRVC | BRVC Uniphore II, LLC | — | CA | SEC filing | |
| Santa Barbara Venture Partners | Santa Barbara Venture Partners Fund II B, LP | — | CA | SEC filing | |
| Aption | Aption FUND I, LP | — | AZ | SEC filing | |
| Old Vine Capital Venture Allocation | Old Vine Capital Venture Allocation Fund, LP | — | TX | SEC filing | |
| CSO | CSO Co-Investment A, L.P. | — | CA | SEC filing | |
| Discipulus Ventures | Discipulus Ventures LP | — | WA | SEC filing | |
| JMA Venture Fund Series of Divergent | JMA Venture Fund Series of Divergent Series LLC | — | FL | SEC filing | |
| Lingotto Innovation Ventures | Lingotto Innovation Ventures Fund I, LP | — | NY | SEC filing | |
| Twenty Two Ventures | Twenty Two Ventures Fund VII LP | — | CA | SEC filing | |
| Victorum | Victorum Fund II LP | — | OK | SEC filing | |
| WYSJ | WYSJ Fund I LP | — | CA | SEC filing | |
| Bochi SFE Partners | Bochi SFE Partners, LLC | — | OR | SEC filing | |
| Bochi Williamette Partners | Bochi Williamette Partners, LLC | — | OR | SEC filing | |
| K2 Global Growth | K2 Global Growth LLC | — | DE | SEC filing | |
| Starting Line | Starting Line New TV, LLC | — | IL | SEC filing | |
| Trybe Togethxr | Trybe Togethxr, LLC | — | CA | SEC filing |
New funds by state
By the sponsoring firm’s home state.
| State | New funds | SPVs | Fund target |
|---|---|---|---|
| California | 32 | 23 | $1.85B |
| Washington | 18 | 155 | $1.23B |
| New York | 16 | 27 | $714M |
| Florida | 14 | 12 | $181M |
| Texas | 8 | 10 | $1.11B |
| Massachusetts | 3 | 4 | $462M |
| Illinois | 3 | 2 | $79.9M |
| Virginia | 3 | 1 | $134M |
| Delaware | 2 | 79 | — |
| Colorado | 2 | 3 | $7M |
| Connecticut | 2 | 3 | $150M |
| Georgia | 2 | 1 | $32.6M |
| Arizona | 2 | 0 | — |
| Oregon | 2 | 0 | — |
| Utah | 2 | 0 | $131M |
New funds by sector
By the sectors the sponsoring firm backs; a fund counts in each. 70 funds’ firms have no sector on record.
| Sector | New funds | SPVs | Fund target |
|---|---|---|---|
| AI & ML | 22 | 81 | $2.06B |
| Cybersecurity | 17 | 9 | $1.13B |
| Media, Gaming & Creator | 16 | 10 | $851M |
| Healthcare | 12 | 22 | $994M |
| B2B Software | 12 | 13 | $301M |
| Consumer | 11 | 19 | $812M |
| Fintech | 7 | 16 | $686M |
| Space | 4 | 23 | $444M |
| Biotech & Pharma | 4 | 22 | $366M |
| Deep Tech | 4 | 16 | $454M |
| Defense & Aerospace | 4 | 13 | $134M |
| Hardware & Robotics | 4 | 10 | $359M |
| Industrial & Manufacturing | 4 | 4 | $157M |
| Real Estate & PropTech | 4 | 4 | $74.9M |
| Climate & Energy | 3 | 37 | $103M |
New SPVs and deal vehicles in January 2025
The 50 largest of 334; each sponsor’s profile lists the rest of its deal vehicles.
Show the 50 largest SPVs
| Firm | Fund | Size | State | First filed | Source |
|---|---|---|---|---|---|
| Caffeinated Capital | Caffeinated Capital Saronic SPV II, LLC | $70M | CO | SEC filing | |
| K5 Tech | K5 Tech Fund I, LP - Series 111 | $41M | FL | SEC filing | |
| Navigant | Navigant SPV II QP LLC | $36.4M | FL | SEC filing | |
| Navigant | Navigant SPV II LLC | $20.6M | FL | SEC filing | |
| Multifaceted Ventures | Community Fund, a series of Multifaceted Ventures, LP | $20M | WA | SEC filing | |
| Animal Capital | Animal Capital Colossal SPV II-B LLC | $15.2M | NC | SEC filing | |
| Maya Capital | MAYA Capital Series Co-Invest I, L.P. (Series Merama II) | $15M | WA | SEC filing | |
| Solas Tvardi | Solas Tvardi Sidecar LLC | $13.3M | TN | SEC filing | |
| E1 Ventures | Colossus West II a Series of E1 Ventures Master LLC | $13.3M | DE | SEC filing | |
| Columbia Lake Partners Growth Lending | Columbia Lake Partners Growth Lending (Holdings), LLC - Series D | $12.5M | NY | SEC filing | |
| Safar Partners | Safar Partners Co-Invest A, LLC | $12.4M | MA | SEC filing | |
| E1 Ventures | Evolution Fund I a Series of E1 Ventures Master LLC | $10M | DE | SEC filing | |
| Craftsman Film Ventures | Producer Fund I a Series of Craftsman Film Ventures LLC | $10M | DE | SEC filing | |
| THVC | THVC (Anon Health), LLC | $10M | CA | SEC filing | |
| GSBackers Loft Orbital | GSBackers Loft Orbital Fund I a Series of CGF2021 LLC | $9.04M | DE | SEC filing | |
| Fundomo Syndicates | ST-1014 Fund I, a series of Fundomo Syndicates, LP | $7.13M | WA | SEC filing | |
| E1 Ventures | Foundation V a Series of E1 Ventures Master LLC | $7M | DE | SEC filing | |
| AGC AI Nexus | AGC Sambanova II a Series of AGC AI Nexus Fund LLC | $5.91M | DE | SEC filing | |
| Fundomo Syndicates | ME-1217 Fund I, a series of Fundomo Syndicates, LP | $5.69M | WA | SEC filing | |
| Tech Pioneers | Tech Pioneers FUND SPV VIII LLC | $5.41M | MA | SEC filing | |
| GSBackers Varda Space | GSBackers Varda Space Fund I a Series of CGF2021 LLC | $5.01M | DE | SEC filing | |
| Vibrant | Vibrant Open SPV LLC | $5M | CA | SEC filing | |
| BioIntelligence Capital | BioIntelligence Capital Dec 2024 a Series of CGF2021 LLC | $4.62M | DE | SEC filing | |
| E1 Ventures | Defense III a Series of E1 Ventures Master LLC | $4.38M | DE | SEC filing | |
| E1 Ventures | Colossus West I a Series of E1 Ventures Master LLC | $3.58M | DE | SEC filing | |
| Silent Capital | Silent Capital XIII, a Series of Silent Capital Holdings, LP | $3.53M | WA | SEC filing | |
| E1 Ventures | Foundation IV a Series of E1 Ventures Master LLC | $3.32M | DE | SEC filing | |
| xxi | ME-1109 Fund II, a series of xxi fund, LP | $3.3M | WA | SEC filing | |
| Range Ventures | MA-1201 Fund II, a series of Range Ventures Investments, LP | $3.28M | WA | SEC filing | |
| Fourth Realm | SX VII a Series of Fourth Realm Investments LLC | $2.93M | WA | SEC filing | |
| Masad Capital | Masad Capital, LP - C1 | $2.81M | WA | SEC filing | |
| AGDF5 | AGDF5 LP | $2.76M | NY | SEC filing | |
| Hiive Groq | Hiive Groq Series IV a Series of Hiive Groq LLC | $2.63M | DE | SEC filing | |
| DataPower Capital Partners | DataPower Ventures SpaceX I a Series of DataPower Capital Partners LLC | $2.6M | DE | SEC filing | |
| DIEM | Diem-Viii, LLC | $2.5M | FL | SEC filing | |
| Renn Global Ventures | RGV A1 Nov 2024 a Series of Renn Global Ventures LLC | $2.47M | DE | SEC filing | |
| Hiive Groq | Hiive Groq Series III a Series of Hiive Groq LLC | $2.42M | DE | SEC filing | |
| Preston-Werner Ventures | Preston-Werner Ventures Rolling Fund, LP - C1 | $2.42M | WA | SEC filing | |
| CoinTENS | CoinTENS LLC | $2.42M | NY | SEC filing | |
| DIEM | Diem-Iii, LLC | $2.4M | FL | SEC filing | |
| MAV Alternate | SpaceX IV - a series of MAV Alternate Investments, LP | $2.32M | WA | SEC filing | |
| Angel Collective | Angel Collective Opportunity Fund, LP - E1 | $2.2M | WA | SEC filing | |
| OV Torus | OV Torus SPV 2025, LLC | $2.2M | IL | SEC filing | |
| MGI Investments | MGI Investments, LP - Series 32 | $2.18M | NY | SEC filing | |
| AGDF6 | AGDF6 LP | $2M | NY | SEC filing | |
| Kembol Ventures | Kembol Ventures Fund I, LP | $2M | CA | SEC filing | |
| Agdf12 | Agdf12 LP | $1.97M | NY | SEC filing | |
| Denver Angels | Pretred 27 II a Series of Denver Angels LLC | $1.96M | CO | SEC filing | |
| LeFonds by FrenchFounders | LeFonds by FrenchFounders, LP - D4 | $1.81M | WA | SEC filing | |
| Companyon | FL-1115 Fund IV, a series of Companyon Sidecar, LP | $1.79M | WA | SEC filing |
How we count
A new fund is a pooled investment vehicle that a US issuer marked “Venture Capital Fund” on SEC Form D, whose first original Form D notice (amendments don’t count) is dated in January 2025. Each one is attributed to the firm that sponsors it. A fund is counted once, in the month it first filed, however many amendments follow. Parallel and feeder vehicles that file separately are counted separately.
SPVs are single-deal, co-investment, sidecar and syndicate vehicles, series of a master fund, and offerings under $3M; they are counted apart from funds. Target capital is the sum of the total offering amounts on each fund’s latest Form D, for funds that state one; it is what the fund is raising, not what has closed. State and sector come from the sponsoring firm’s profile.
Form D filings can arrive late, so recent months can grow after a data rebuild. Months are published once they have at least 10 new funds. The data covers the last 15 quarters of the SEC’s Form D data sets. Full sources and field definitions are in the methodology.