Companies · Business Services

Eric Seto Research Ltd

HONG KONG · Business Services

Diligence memoA one-page analyst read on Eric Seto Research Ltd — recommendation, valuation, rhythm, risks.
$6.6M
Total raised · real
1
Rounds
0.1×
Latest step-up
Top 20%
Sector rank · raised
Series C
Latest stage · inferred · Thu Mar 13 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Eric Seto Research Ltd looks under-valued against its niche peers and is quiet on financing cadence.

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

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

Under-valued
  • Modeled value is 0.09× the median modeled value of Series C Business Services companies in 2025–2027 (22 peers) — value vs value, same stage and era.
Quiet
  • Last raise 16 mo ago; this sector typically re-raises about every 12 months.
  • Slightly overdue versus sector cadence.
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 Business Services

Eric Seto Research Ltd is one of 2438 Business Services companies tracked from HONG KONG. By capital raised it ranks in the upper tier (ahead of 81% of sector peers), and in the upper tier 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(c)
Reg D exemption
34
Investors (latest)
2021
Year incorporated
2025-03-13
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$250M$500M$750M$1.0BSeries C · 2024-06-04 Raised $100M (real) Modeled valuation $886M (est)$100M$886MSeries C2024Series C · 2025-03-13 Raised $6.6M (real) Modeled valuation $48M (est)$6.6M$48MSeries C2025+$6.6MCumulative $107M

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 C$100.0M · 2024
Series C extension$6.6M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 20%.

Modeled valuation trajectory
$48.0M
Base estimate est.
$25.9M
Conservative case
$66.3M
Upside case
$43.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the business services sector profile. Directional, not a quoted figure.

Series C · modeled $886.1M · 2024-06-042024Series C · modeled $48.0M · 2025-03-132025
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
80%
Survival probability
59% low · 92% high
1.28×/yr
Annual markup
1.47×/yr upside case
1.3 yr
Elapsed time used
1.3 yr actual, capped for stale marks
business services
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
9 mo
Avg between rounds
$8.5M/yr
Capital velocity
2.1 yr
On record since
2024
First round
2
Rounds on file
How it compares to the market

Benchmarked against 2438 companies in Business Services. 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) 4.5× above median
This company$6.6M
Sector median$1.5M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.1× of median
This company$6.6M
Sector median$50.0M
Modeled value — vs sector median (estimate, all stages) 3.2× above median
This company$48.0M
Sector median$15.1M

Raised more than 81% of sector peers (real $). Modeled value above 78% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) 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 #20 of 22.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0M$1.0BCapital raised (log)INVESTWFG Ltd · Series C Raised $100.0M · modeled $708.5M (est)Ballappart Ltd · Series C Raised $100.0M · modeled $695.6M (est)Vyntor Global Group Ltd · Series C Raised $100.0M · modeled $692.8M (est)Stockrich Ltd · Series C Raised $100.0M · modeled $691.9M (est)Aimarket Ltd · Series C Raised $100.0M · modeled $691.9M (est)Coinplex Llc · Series C Raised $100.0M · modeled $691.4M (est)Finxelis Crypto Group Ltd · Series C Raised $100.0M · modeled $689.1M (est)Lucrumia Crypto Group Ltd · Series C Raised $100.0M · modeled $689.1M (est)Bfdc Crypto Group Ltd · Series C Raised $100.0M · modeled $688.6M (est)GROKR Exchange Ltd · Series C Raised $100.0M · modeled $688.6M (est)Strategic Enterprise Solutions, Inc · Series C Raised $100.0M · modeled $672.0M (est)Sainvus Llc · Series C Raised $67.5M · modeled $433.5M (est)Eric Seto Research Ltd (this company) Raised $6.6M · modeled $48.0M (est)Eric Seto Research Ltd
CompanyStageRaised · realValue · estvs peer med.
INVESTWFG LtdSeries C$100.0M$708.5M1.28×
Ballappart LtdSeries C$100.0M$695.6M1.26×
Vyntor Global Group LtdSeries C$100.0M$692.8M1.25×
Stockrich LtdSeries C$100.0M$691.9M1.25×
Aimarket LtdSeries C$100.0M$691.9M1.25×
Coinplex LlcSeries C$100.0M$691.4M1.25×
Finxelis Crypto Group LtdSeries C$100.0M$689.1M1.25×
Lucrumia Crypto Group LtdSeries C$100.0M$689.1M1.25×
Bfdc Crypto Group LtdSeries C$100.0M$688.6M1.25×
GROKR Exchange LtdSeries C$100.0M$688.6M1.25×
Strategic Enterprise Solutions, IncSeries C$100.0M$672.0M1.22×
Sainvus LlcSeries C$67.5M$433.5M0.78×
Eric Seto Research Ltd this companySeries C$6.6M$48.0M0.09×
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 C$100.0M2024-06-04$666.7M$886.1M90%
Series C$6.6M2025-03-13$43.7M$48.0M90%
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 C$100.0M2024-06-04
    • First recorded raise — entered as Series C.
  2. Series C$6.6M2025-03-13
    • Raised 9 mo later, in step with the ~12 mo sector norm.
    • Round 15.2× smaller than the prior — bridge or down round.
    • 34 investors on this round.
Intelligence
2025 ~Q4
Modeled next raise · ~9mo cadence
$6.6M
Modeled next size est.range $6.6M$10.5M
0.1×
Last step-up
$8.5M/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
WAI YIU SETO2024-06
Registry & provenance

Eric Seto Research Ltd 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
2025686
SEC CIK
2021
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
BARS Acquisition Holdings LLCBusiness ServicesSeries A$6.6M$24.0Msame sector
Integrated Physicians Management Services, Inc.Business ServicesSeed$6.5M$31.2Msame sector
Repvue, Inc.Business ServicesSeries A$6.6M$56.1Msame sector
Digitzs Solutions, Inc.Business ServicesSeed$6.4M$29.9Msame sector
Headway Workforce Solutions, IncBusiness ServicesSeed$6.7M$34.5Msame sector
Brookline MTI Holding, LLCBusiness ServicesSeries A$6.2M$44.6Msame sector
Magneto Global LtdBusiness ServicesSeries A$6.2M$33.6Msame sector
Horsetail Technologies, LLCBusiness ServicesSeries A$7.1M$22.5Msame sector
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
Magneto Global LtdBusiness ServicesSeries A$33.6M77%
Auxo Management, L.P.Business ServicesSeries A$219.2M76%
Valuation Research CorpBusiness ServicesPre-Seed$721K76%
Motif Research, Inc.Business ServicesSeed$52.2M75%
Eversight, Inc.Business ServicesSeries A$20.7M75%
Skydeo IncBusiness ServicesPre-Seed$6.7M75%
DAO Oasis, LLCBusiness ServicesPre-Seed$513K75%
Auxilio IncBusiness ServicesSeed$88.0M75%
Frequently asked
How much funding has Eric Seto Research Ltd raised?
Eric Seto Research Ltd has raised approximately $6.6M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Eric Seto Research Ltd's estimated valuation?
Provath's modeled valuation for Eric Seto Research Ltd is approximately $48.0M (modeled range $25.9M–$66.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Eric Seto Research Ltd at?
Eric Seto Research Ltd's latest modeled financing stage is Series C. Its most recent recorded round closed around Thu Mar 13.
What does Eric Seto Research Ltd do and where is it based?
Eric Seto Research Ltd operates in the Business Services sector, based in HONG KONG.
Explore related

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