Economic Intelligence Brief No. 2

Funding America's Industrial Base

Crowdfunding capital flowing to U.S. manufacturing, energy, and clean tech.

$540M — to U.S. industrial-base issuers

Summary

Everyday investors are quietly funding America's industrial base — manufacturing, energy, clean tech, agriculture, space, and maritime companies — and that share is rising as the broader market cools.

Key findings

$540M raised — 19.7% of all Reg CF, climbing to 27.8% in 2025.
799 issuers, 362,709 investors, across 48 states.
Industrial-base raises run a median $107K/deal vs $66K market-wide (1.6x).
75.9% success vs 68.5% market-wide.
Composition led by Energy (26%), Agriculture/Food (23%), Clean Tech (20%).

Frequently asked questions

How much Reg CF capital has gone to America's industrial base?

$540M (19.7% of all Reg CF), climbing to 27.8% of capital in 2025. The cohort spans 799 issuers and 362,709 investors across 48 states.

Are industrial-base raises different from the broader market?

Yes. They run a median $107K per deal versus $66K market-wide (1.6x larger) and succeed at 75.9% vs 68.5%.

Audience

Policy · economic development · manufacturing

About this brief

Published by CCLEAR.ai. Anchored to public SEC EDGAR filings and hand-verified against a locked data snapshot. CCLEAR is a data publisher, not an investment adviser; figures describe market activity, not investment outcomes or advice.

Funding America's Industrial Base · CCLEAR Research Library · License the data · Commission research

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The $42.5 Billion Engine — The economic output generated by Reg CF companies.
The First Two Weeks — How a campaign's first 14 days predict its final raise.
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The Crowdfunding Genome — America's top-30 startup-crowdfunding ecosystems, ranked.
After the Raise — What happens to companies after they crowdfund.
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Regulation Crowdfunding by Congressional District: A Report Card — A rolling, district-by-district scorecard of Reg CF activity across all 435 U.S. House districts.
Marked Up — How valuations grow when companies crowdfund again, and the paper markup that creates.
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