Companies · Other Energy

Algonquin Gas Transmission, Llc

HOUSTON · Other Energy

Diligence memoA one-page analyst read on Algonquin Gas Transmission, Llc — recommendation, valuation, rhythm, risks.
$850.0M
Total raised · real
2
Rounds
1.4×
Latest step-up
Top 1%
Sector rank · raised
Growth/Late
Latest stage · inferred · Mon Aug 05 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Algonquin Gas Transmission, Llc looks fair against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the energy sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 0.71× the median modeled value of Growth/Late Other Energy companies in 2019–2021 (5 peers) — value vs value, same stage and era.
  • Within the normal band (71% of peer median) for its niche.
Dormant
  • Last raise 6.9 yr ago; this sector typically re-raises about every 12 months.
  • Silent for over 3× the sector's normal cadence.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Algonquin Gas Transmission, Llc behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
14.0 yr record
Peak capital year was 2019 with $500.0M across 1 filings.
Market position
ahead of 100% of Other Energy peers
Capital scale is ahead of 100% of Other Energy peers; modeled value is above 100% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2019: $500.0M across 1 filings.
  • Largest single filing was $500.0M on 2019-08-05.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other Energy

Algonquin Gas Transmission, Llc is one of 2048 Other Energy companies tracked from HOUSTON. By capital raised it ranks among the largest (ahead of 100% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
20
Investors (latest)
2019-08-05
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$2.5B$5.0B$7.5B$10.0BSeries D+ · 2012-07-17 Raised $350M (real) Modeled valuation $4.2B (est)$350M$4.2BSeries D+2012Growth/Late · 2019-08-05 Raised $500M (real) Modeled valuation $6.2B (est)$500M$6.2BGrowth/Late2019+$500MCumulative $850M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series D+$350.0M · 2012
Growth/Late$500.0M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 29%.

Modeled valuation trajectory
$6.2B
Base estimate est.
$3.7B
Conservative case
$11.2B
Upside case
$5.0B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Growth/Latea round over $400M). Valuation is modeled from stage benchmarks scaled by the energy sector profile. Directional, not a quoted figure.

Series D+ · modeled $4.2B · 2012-07-172012Growth/Late · modeled $6.2B · 2019-08-052019
Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
86%
Survival probability
74% low · 92% high
1.06×/yr
Annual markup
1.16×/yr upside case
6.0 yr
Elapsed time used
6.9 yr actual, capped for stale marks
energy
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
85 mo
Avg between rounds
$120.6M/yr
Capital velocity
14.0 yr
On record since
2012
First round
2
Rounds on file
How it compares to the market

Benchmarked against 2048 companies in Other Energy. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 249× above median
This company$850.0M
Sector median$3.4M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 1.0× above median
This company$500.0M
Sector median$500.0M
Modeled value — vs sector median (estimate, all stages) 364× above median
This company$6.2B
Sector median$17.0M

Raised more than 100% of sector peers (real $). Modeled value above 100% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Growth/Late) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #4 of 5.

This companyCohort peer
$1.0B$10.0B$100.0B$100.0M$1.0B$10.0BCapital raised (log)Commonwealth Fusion Systems LLC · Growth/Late Raised $2.0B · modeled $20.7B (est)Sino Resources Technology Co Ltd · Growth/Late Raised $1.1B · modeled $13.0B (est)Worleyparsons Ltd · Growth/Late Raised $700.0M · modeled $8.7B (est)Twb Asset Management Trust · Growth/Late Raised $500.0M · modeled $6.2B (est)Algonquin Gas Transmission, Llc (this company) Raised $850.0M · modeled $6.2B (est)Algonquin Gas Transmission, Llc
CompanyStageRaised · realValue · estvs peer med.
Commonwealth Fusion Systems LLCGrowth/Late$2.0B$20.7B2.38×
Sino Resources Technology Co LtdGrowth/Late$1.1B$13.0B1.50×
Worleyparsons LtdGrowth/Late$700.0M$8.7B1.00×
Algonquin Gas Transmission, Llc this companyGrowth/Late$850.0M$6.2B0.71×
Twb Asset Management TrustGrowth/Late$500.0M$6.2B0.71×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series D+$350.0M2012-07-17$2.9B$4.2B85%
Growth/Late$500.0M2019-08-05$5.0B$6.2B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series D+$350.0M2012-07-17
    • First recorded raise — entered as Series D+.
    • 14 investors on this round.
  2. Growth/Late$500.0M2019-08-05
    • Raised again after 85 mo — slower than the ~12 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 20 investors on this round.
Intelligence
2026 ~Q3
Modeled next raise · ~85mo cadence
$714.3M
Modeled next size est.range $500.0M$1.1B
1.4×
Last step-up
$120.6M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
David S. Lawson1 other2019-08
J. Andrew Drake1 other2019-08
Kelly L. Gray1 other2019-08
Paul C. Bowen1 other2019-08
Richard M. Paglia1 other2019-08
Stephen J. Neyland1 other2019-08
Allen C. Capps2012-07
Andrew J. Drake2012-07
Brian R. McKerlie2012-07
Frederick S. Bush2012-07
Fulkra J. Mason2012-07
Gregg E. McBride2012-07
Gregory J. Rizzo2012-07
Gregory P. Bilinski2012-07
Guy G. Buckley2012-07
John V. Adams2012-07
J. Patrick Reddy2012-07
Laura J. Buss Sayavedra2019-08
Maximillian G. Chan2019-08
Michele Eva Harradence2019-08
Patricia M. Rice2012-07
Patrick J. Hester2012-07
Richard J. Kruse, Jr.2012-07
Richard R. Paglia2012-07
Registry & provenance

Algonquin Gas Transmission, Llc is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
3530
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
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Silicon Ranch CorpOther EnergyGrowth/Late$2.0B$4.1Bsame sector · same stage
Generate Capital, Inc.Other EnergyGrowth/Late$4.3B$11.3Bsame sector · same stage
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Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
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Alderbuck Energy, Inc.Other EnergyPre-Seed$2.3M84%
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Frequently asked
How much funding has Algonquin Gas Transmission, Llc raised?
Algonquin Gas Transmission, Llc has raised approximately $850.0M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Algonquin Gas Transmission, Llc's estimated valuation?
Provath's modeled valuation for Algonquin Gas Transmission, Llc is approximately $6.2B (modeled range $3.7B–$11.2B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Algonquin Gas Transmission, Llc at?
Algonquin Gas Transmission, Llc's latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Mon Aug 05.
What does Algonquin Gas Transmission, Llc do and where is it based?
Algonquin Gas Transmission, Llc operates in the Other Energy sector, based in HOUSTON.
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