AltList Weekly Digest

1,330 exempt offerings were filed with the SEC this week (921 new + 409 amendments) — $27B if you count everything, $17.40B if you're only looking at what's actually new. Of that, $9.91B was already spoken for before most people knew it existed.

Case in point: Peter Thiel quietly raised $6 billion through Founders Fund Growth IV by tapping 370 of his closest friends and insiders to fill it, and filed the paperwork exactly 15 days after the first dollar came in — the minimum window the SEC requires before you have to tell anyone. Cool flex, Peter. But that's not why you're here.

We don't cover the deals that were never meant for you. We cover the ones that are. This week, 506(c) issuers — the ones who actually want retail accredited investors at the table — filed to raise $3.63B for fresh, publicly advertised deals with nothing raised yet. No warm intro required. No golf handicap. Just accreditation.

*if you’re accreddited

High-level for private offerings from last week

New Notice Structures

626 defined-amount new notices. Every structure, every size, every flavor of private capital. The VC funds get the glory; Peter and his Founders Fund band saw to that this week — but they're 186 of 626. The other 440 deals don't make the TechCrunch roundup. A PE shop quietly raising $300M in Colorado. 267 companies and SPVs going direct. 79 real estate syndicators who never needed a fund in the first place. This is the whole picture.

258 deals closed out the week with capital still on the table. $7.49B in total across every structure and asset class. 208 of them are 506(b) (translation: you need to already know somebody).

The other 46 are 506(c) — publicly advertised, open to any accredited investor and carrying $4.10B of that total. Fewer deals, more money, no velvet rope.