Weekly Fund Digest - December 19, 2025 | VC & PE Form D Filings

Note: "Amount Raised" reflects the total offering amount disclosed in SEC Form D filings. Funds reporting $0 are excluded from this digest. AUM data is sourced from Form ADV filings where available.

Venture Capital

Top by Amount Raised

xBuilders Fund II, LP filed for $60.0 million from their NEW YORK, NY headquarters, the Builders Fund is a San Francisco‑based private‑equity firm that invests in high‑growth, purpose‑driven businesses whose models address environmental and social challenges, emphasizing intentional growth and impact‑aligned partnerships ([thebuildersfund.com](https://www.thebuildersfund.com); [CB Insights](https://www.cbinsights.com/investor/the-builders-fund)). Its second closed‑end vehicle, Builders Fund II, LP, backs growth‑stage companies such as Acelero Learning, PosiGen Solar and Traditional Medicinals, which are highlighted in the fund’s public portfolio ([thebuildersfund.com/portfolio](https://www.thebuildersfund.com/portfolio); [PDF report showing Builders VC Fund II](https://www.lacers.org/sites/main/files/file-attachments/20210608_bd_rpt_-_private_equity_portfolio_performance_report_for_q4_2020.pdf)).

Keeling Capital Fervo E SPV a Series of CGF2021 LLC filed for $4.2 million from their CLAYMONT, DE headquarters, keeling Capital is a clean‑energy venture firm that concentrates on “clean‑firm” technologies such as next‑generation geothermal power, publishing thematic research like its Geothermal Power note to guide investments ([keelingcapital.substack.com](https://keelingcapital.substack.com/p/geothermal-power)). Its Keeling Capital Fervo E SPV – a Series of CGF2021 LLC – is a dedicated vehicle that backs Fervo Energy, the leading enhanced‑geothermal developer building the 500 MW Cape Station project to deliver 24/7 carbon‑free power ([keelingcapital.substack.com](https://keelingcapital.substack.com/p/geothermal-power); [fervoenergy.com](https://fervoenergy.com/fervo-energy-raises-462-million-series-e-to-accelerate-geothermal-development-and-meet-surging-energy-demand-with-clean-firm-power)).

Privateer Verdant Ventures NOV2025 a Series of CGF2021 LLC filed for $3.7 million from their CLAYMONT, DE headquarters, i’m unable to locate any details about “Privateer Verdant Ventures NOV2025 a Series of CGF2021 LLC” in the provided sources, so I cannot provide a background, strategy, or portfolio information. ([Cavendish Privateers](https://www.cavendishprivateers.com))

Boom Supersonic 30F II a Series of Denver Angels LLC filed for $3.5 million from their CLAYMONT, DE headquarters, i’m sorry, but the available sources do not contain information on “Boom Supersonic 30F II a Series of Denver Angels LLC,” such as the firm’s background, investment strategy, focus areas, or portfolio companies. Without verifiable details in the search results, I can’t provide a factual description for your newsletter.

PPVP GP a Series of Pari Passu Master II LLC filed for $3.2 million from their CLAYMONT, DE headquarters, pari Passu GP a Series of Pari Passu Master II LLC is the Delaware‑registered venture‑capital fund vehicle of Pari Passu Venture Partners, a founder‑led early‑stage VC that leverages its operators’ network to source commerce‑tech, SaaS and consumer investments ([capedge.com](https://capedge.com/company/2025504/pari-passu-524-a-series-of-pari-passu-master-ii-llc), [hub.waveup.com](https://hub.waveup.com/funds/pari-passu-venture-partners)). The firm writes $250 k‑$5 M checks from pre‑seed through Series B, targeting companies with clear product‑market fit and defensible moats in e‑commerce, AI, health‑tech, defense and related sectors, often co‑investing alongside top funds such as Sequoia and Upfront Ventures ([hub.waveup.com](https://hub.waveup.com/funds/pari-passu-venture-partners), [ppvp.com](https://www.ppvp.com)). Notable portfolio companies include Siena AI, Function Health, OpenBorder, Chaos Industries, The Coconut Cult, Sydecar and EdSights ([ppvp.com](https://www.ppvp.com), [sydecar.io](https://www.sydecar.io/blog-detail/paripassu)).

Private Equity

Top by Amount Raised

Leon Healthcare Real Estate Fund Onshore Feeder LP filed for $200.0 million from their DALLAS, TX headquarters is a vehicle of Leon Capital Group, a diversified family‑owned holding company that manages over $10 billion of private capital across financial services, healthcare and real‑estate businesses ([leoncapitalgroup.com/about-leon-capital-group](https://www.leoncapitalgroup.com/about-leon-capital-group), [leoncapitalgroup.com](https://www.leoncapitalgroup.com)). The fund focuses on acquiring high‑quality, income‑producing healthcare real‑estate assets—such as physician office and life‑science buildings—through long‑term, hands‑off lease structures that offer built‑in rental growth and geographic diversification, though specific portfolio companies have not been publicly disclosed ([leoncapitalgroup.com/physicians-healthcare-real-estate](https://www.leoncapitalgroup.com/physicians-healthcare-real-estate), [formds.com/issuers/leon-healthcare-real-estate-fund-lp](https://www.formds.com/issuers/leon-healthcare-real-estate-fund-lp)).

Leon Multifamily Real Estate Fund Onshore Feeder LP filed for $100.0 million from their DALLAS, TX headquarters is the on‑shore feeder vehicle of Leon Multifamily, the multifamily arm of Leon Capital Group – a Dallas‑based holding company founded in 2006 by Fernando De Leon that grew from a modest Texas real‑estate developer into a diversified operator across real estate, finance, healthcare and technology ([leoncapitalgroup.com](https://www.leoncapitalgroup.com/about-leon-capital-group)). The fund pursues opportunistic, value‑add multifamily investments in assets with special circumstances, targeting above‑market returns through rapid financing and market expertise, as shown by its recent $134 million construction financing for three Sun‑belt projects totaling 842 units ([multihousingnews.com](https://www.multihousingnews.com/leon-multifamily-secures-134m-financing-for-sunbelt-developments), [leoncapitalgroup.com](https://www.leoncapitalgroup.com/multifamily)). Current portfolio highlights include Soltra Kierland (202 units, AZ), LakeSound by LCG (380 units, TX), The Palmoro (231 units, AZ) and newly financed developments at 3000 Bearing Way (Morrisville, NC), 3340 E Warner Road (Gilbert, AZ) and Heritage Parkway (Mansfield, TX) ([leoncapitalgroup.com](https://www.leoncapitalgroup.com/multifamily), [businesswire.com](https://www.businesswire.com/news/home/20241215962804/en/Leon-Multifamily-Secures-134-Million-in-Construction-Financing-in-30-Days-for-Three-Development-Projects)).

Elite Prime Equity LLC filed for $25.0 million from their PEORIA, AZ headquarters operates a trading platform that aims to generate maximum profit by leveraging a suite of tools across more than 4,600 markets, including asset‑backed, hybrid, derivative and certificated securities as well as Bitcoin, gold, oil, Apple, Tesla and other assets ([theeliteprime.com](https://theeliteprime.com/about.html)). Its strategy centers on providing clients with easy‑to‑use, technology‑driven access to a broad range of securities while emphasizing professional support, but no specific portfolio companies are publicly disclosed.