Companies · Electric Utilities

e2c ESA Bond 2, LLC

BONITA SPRINGS · Electric Utilities

Diligence memoA one-page analyst read on e2c ESA Bond 2, LLC — recommendation, valuation, rhythm, risks.
$26.4M
Total raised · real
1
Rounds
9.9×
Latest step-up
Top 33%
Sector rank · raised
Series B
Latest stage · inferred · Thu Oct 20 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

e2c ESA Bond 2, LLC has raised $26M over 1 round; too few niche peers to rank its valuation yet.

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

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

Dormant
  • Last raise 3.7 yr ago; this sector typically re-raises about every 10 months.
  • Only one round on record and long silent — often defunct, acquired, or gone quiet.

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

Issuer-vehicle patternmedium confidence

e2c ESA Bond 2, 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
3.7 yr record
Peak capital year was 2022 with $29.1M across 2 filings.
Market position
ahead of 68% of Electric Utilities peers
Capital scale is ahead of 68% of Electric Utilities peers; modeled value is above 67% 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
Needs review
Row-level filing totals differ from canonical totals, so amendment/superseded filtering should be checked.
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 2022: $29.1M across 2 filings.
  • Largest single filing was $26.4M on 2022-10-20.
  • Filing rows sum to $29.1M, while canonical raised total is $26.4M; likely amendments/superseded rows are mixed into the detail view.
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.
  • Canonical filtering should be tightened before using row-level totals for diligence.
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 Electric Utilities

e2c ESA Bond 2, LLC is one of 133 Electric Utilities companies tracked from BONITA SPRINGS. By capital raised it ranks mid-pack (ahead of 68% of sector peers), and mid-pack 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
423
Investors (latest)
2022
Year incorporated
2022-10-20
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$50M$100M$150M$200MSeed · 2022-10-20 Raised $2.7M (real) Modeled valuation $15M (est)$2.7M$15MSeed2022Series B · 2022-10-20 Raised $26M (real) Modeled valuation $177M (est)$26M$177MSeries B2022+$26MCumulative $29M

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
Seed$2.7M · 2022
Series B$26.4M · 2022no Series A on file

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$176.6M
Base estimate est.
$69.3M
Conservative case
$437.6M
Upside case
$146.6M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the utilities sector profile. Directional, not a quoted figure.

Seed · modeled $15.0M · 2022-10-202022Series B · modeled $176.6M · 2022-10-202022
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
71%
Survival probability
47% low · 87% high
1.15×/yr
Annual markup
1.40×/yr upside case
3.7 yr
Elapsed time used
3.7 yr actual, capped for stale marks
utilities
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
0 mo
Avg between rounds
Capital velocity
3.7 yr
On record since
2022
First round
2
Rounds on file
How it compares to the market

Benchmarked against 133 companies in Electric Utilities. 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) 3.3× above median
This company$26.4M
Sector median$8.0M
Latest round — vs other Series B rounds in sector (real $, this stage) 1.1× above median
This company$26.4M
Sector median$25.0M
Modeled value — vs sector median (estimate, all stages) 4.5× above median
This company$176.6M
Sector median$39.4M

Raised more than 68% of sector peers (real $). Modeled value above 67% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) 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.

Not enough valued peers in this cohort to chart positioning.

CompanyStageRaised · realValue · estvs peer med.
e2c ESA Bond 2, LLC this companySeries B$26.4M$176.6M1.11×
Sandow Lakes Energy Company, LLCSeries B$25.4M$140.6M0.89×
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.
Seed$2.7M2022-10-20$13.4M$15.0M90%
Series B$26.4M2022-10-20$146.6M$176.6M90%
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. Seed$2.7M2022-10-20
    • First recorded raise — entered as Seed.
    • 50 investors on this round.
  2. Series B$26.4M2022-10-20
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 9.9× larger than the prior — scaling up.
    • 423 investors on this round.
Intelligence
Modeled next raise
$79.2M
Modeled next size est.range $51.4M$126.6M
9.9×
Last step-up
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
James Richmond3 other2022-10
Jeanne Richmond3 other2022-10
Mike Maertens2 other2022-10
Scott Gall2022-10
Todd Snarr2022-10
Registry & provenance

e2c ESA Bond 2, 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
1953368
SEC CIK
2022
Incorporated
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
e2c ESA Bond 1, LLCElectric UtilitiesSeries C$40.2M$384.3Mnetwork3 shared operators · same sector
e2Companies LLCOther EnergySeries C$61.2M$557.2Mnetwork3 shared operators
Agilon Energy, LLCElectric UtilitiesSeries B$26.7M$247.3Msame sector · same stage
Sandow Lakes Energy Company, LLCElectric UtilitiesSeries B$25.4M$140.6Msame sector · same stage
Air Power USAElectric UtilitiesSeries B$25.0M$108.3Msame sector · same stage
D Solar Holdings, LLCElectric UtilitiesSeries B$25.0M$99.2Msame sector · same stage
PSE&G Urban Renewal Entity, LLCElectric UtilitiesSeries B$25.0M$231.8Msame sector · same stage
Public Service Electric & Gas CoElectric UtilitiesSeries B$25.0M$231.8Msame sector · same stage
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
e2c ESA Bond 1, LLCElectric UtilitiesSeries C$384.3M99%
e2C ESA Assets 2 LLCOther EnergySeed$13.4M85%
e2 Companies LLCOther EnergySeries B$158.0M81%
e2Companies LLCOther EnergySeries C$557.2M81%
CCH Platform 2, LLCElectric UtilitiesSeed$39.7M78%
EPC Power Corp.Other EnergySeed$38.9M77%
ED Energy Delivered CorpElectric UtilitiesSeries A$52.4M77%
Bondurant Technologies International Inc.Other EnergySeries A$37.7M76%
Frequently asked
How much funding has e2c ESA Bond 2, LLC raised?
e2c ESA Bond 2, LLC has raised approximately $26.4M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is e2c ESA Bond 2, LLC's estimated valuation?
Provath's modeled valuation for e2c ESA Bond 2, LLC is approximately $176.6M (modeled range $69.3M–$437.6M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is e2c ESA Bond 2, LLC at?
e2c ESA Bond 2, LLC's latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Oct 20.
What does e2c ESA Bond 2, LLC do and where is it based?
e2c ESA Bond 2, LLC operates in the Electric Utilities sector, based in BONITA SPRINGS.
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