Companies · Other

FBT Holdings LLC

NEW YORK · Other

Diligence memoA one-page analyst read on FBT Holdings LLC — recommendation, valuation, rhythm, risks.
$57.6M
Total raised · real
2
Rounds
7.9×
Latest step-up
Top 7%
Sector rank · raised
Series C
Latest stage · inferred · Thu Feb 17 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

FBT Holdings 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.

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

Fair
  • Modeled value is 1.18× the median modeled value of Series C Other companies in 2022–2024 (192 peers) — value vs value, same stage and era.
  • Within the normal band (118% of peer median) for its niche.
Dormant
  • Last raise 4.4 yr ago; this sector typically re-raises about every 11 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

FBT Holdings 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
5.7 yr record
Peak capital year was 2022 with $51.1M across 1 filings.
Market position
ahead of 94% of Other peers
Capital scale is ahead of 94% of Other peers; modeled value is above 95% 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
Lower 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.
  • Sector is still broad/Other, so operating comparables are weak.
  • 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: $51.1M across 1 filings.
  • Largest single filing was $51.1M on 2022-02-17.
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

FBT Holdings LLC is one of 25008 Other companies tracked from NEW YORK. By capital raised it ranks among the largest (ahead of 94% 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
8
Investors (latest)
2019
Year incorporated
2022-02-17
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$1.0BSeed · 2020-10-15 Raised $2.0M (real) Modeled valuation $34M (est)$2.0M$34MSeed2020Series A · 2020-10-15 Raised $6.5M (real) Modeled valuation $90M (est)$6.5M$90MSeries A2020Series C · 2022-02-17 Raised $51M (real) Modeled valuation $633M (est)$51M$633MSeries C2022+$6.5M+$51MCumulative $60M

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$2.0M · 2020
Series A$6.5M · 2020
Series C$51.1M · 2022no Series B on file

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 60%.

Modeled valuation trajectory
$632.6M
Base estimate est.
$197.4M
Conservative case
$1.3B
Upside case
$340.4M
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. Directional, not a quoted figure.

Seed · modeled $34.2M · 2020-10-152020Series A · modeled $90.1M · 2020-10-15Series C · modeled $632.6M · 2022-02-172022
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
78%
Survival probability
58% low · 90% high
1.22×/yr
Annual markup
1.40×/yr upside case
4.4 yr
Elapsed time used
4.4 yr actual, capped for stale marks
general
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
8 mo
Avg between rounds
$42.9M/yr
Capital velocity
5.7 yr
On record since
2020
First round
3
Rounds on file
How it compares to the market

Benchmarked against 25008 companies in Other. 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) 28× above median
This company$57.6M
Sector median$2.0M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.0× above median
This company$51.1M
Sector median$50.0M
Modeled value — vs sector median (estimate, all stages) 36× above median
This company$632.6M
Sector median$17.7M

Raised more than 94% of sector peers (real $). Modeled value above 95% 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 #68 of 192.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Wild Type, Inc. · Series C Raised $115.6M · modeled $1.2B (est)Thingy Thing Inc. · Series C Raised $118.4M · modeled $1.2B (est)Intelycare, Inc. · Series C Raised $142.1M · modeled $1.2B (est)CertiK Global Ltd. · Series C Raised $233.4M · modeled $1.1B (est)Ivanhoe Electric Inc. · Series C Raised $157.6M · modeled $1.0B (est)Social Life Network, Inc. · Series C Raised $202.1M · modeled $1.0B (est)Ecoark Holdings, Inc. · Series C Raised $109.6M · modeled $1.0B (est)Marcella Golf Club LLC · Series C Raised $100.0M · modeled $1.0B (est)IAFD Holdings, LP · Series C Raised $88.4M · modeled $998.9M (est)CRB Topco LLC · Series C Raised $98.7M · modeled $995.4M (est)Alera Group Ultimate Holdings, LLC · Series C Raised $100.0M · modeled $992.9M (est)Redwire Corp · Series C Raised $80.8M · modeled $971.2M (est)FBT Holdings LLC (this company) Raised $57.6M · modeled $632.6M (est)FBT Holdings LLC
CompanyStageRaised · realValue · estvs peer med.
Wild Type, Inc.Series C$115.6M$1.2B2.33×
Thingy Thing Inc.Series C$118.4M$1.2B2.26×
Intelycare, Inc.Series C$142.1M$1.2B2.20×
CertiK Global Ltd.Series C$233.4M$1.1B2.00×
Ivanhoe Electric Inc.Series C$157.6M$1.0B1.95×
Social Life Network, Inc.Series C$202.1M$1.0B1.91×
Ecoark Holdings, Inc.Series C$109.6M$1.0B1.88×
Marcella Golf Club LLCSeries C$100.0M$1.0B1.88×
IAFD Holdings, LPSeries C$88.4M$998.9M1.87×
CRB Topco LLCSeries C$98.7M$995.4M1.86×
Alera Group Ultimate Holdings, LLCSeries C$100.0M$992.9M1.86×
Redwire CorpSeries C$80.8M$971.2M1.82×
FBT Holdings LLC this companySeries C$57.6M$632.6M1.18×
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$2.0M2020-10-15$10.3M$34.2M90%
Series A$6.5M2020-10-15$29.5M$90.1M90%
Series C$51.1M2022-02-17$340.4M$632.6M90%
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$2.0M2020-10-15
    • First recorded raise — entered as Seed.
    • 2 investors on this round.
  2. Series A$6.5M2020-10-15
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.2× larger than the prior — scaling up.
    • 21 investors on this round.
  3. Series C$51.1M2022-02-17
    • Raised 16 mo later, in step with the ~11 mo sector norm.
    • Round 7.9× larger than the prior — scaling up.
    • 8 investors on this round.
Intelligence
2022 ~Q4
Modeled next raise · ~8mo cadence
$153.2M
Modeled next size est.range $99.6M$245.1M
7.9×
Last step-up
$42.9M/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
Andrew Minkow1 other2020-10
Theodore S. Green1 other2022-02
Andrew M Minkow2022-02
Hilary S. Strong2022-02
Martin S. Gilbert2022-02
Michael S. Kelter2022-02
Robert S. Benton2022-02
Scott Hoffman2020-10
Scott P Hoffman2022-02
Theodore Green2020-10
Registry & provenance

FBT Holdings 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
1832329
SEC CIK
2019
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.

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Noonan Acquisition Group, LLCOtherSeries C$59.0M$624.5Msame sector · same stage
Dexis Interactive Holdings, Inc.OtherSeries C$59.4M$510.7Msame 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
Fbf Investment, LlcOtherSeries A$8.0M87%
FS Ultimate Holdings, LLCOtherSeries C$1.1B85%
FWE Equity, LLCOtherSeries A$90.8M85%
FCP-B.I. Holdings, LLCOtherSeries B$336.2M84%
FGM Investors, LLC.OtherPre-Seed$2.9M83%
FMF Holding LLCOtherSeed$55.8M83%
Koch Holdings, LLCOtherSeries B$3.9M83%
Fsx, LlcOtherPre-Seed$4.5M83%
Frequently asked
How much funding has FBT Holdings LLC raised?
FBT Holdings LLC has raised approximately $57.6M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is FBT Holdings LLC's estimated valuation?
Provath's modeled valuation for FBT Holdings LLC is approximately $632.6M (modeled range $197.4M–$1.3B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is FBT Holdings LLC at?
FBT Holdings LLC's latest modeled financing stage is Series C. Its most recent recorded round closed around Thu Feb 17.
What does FBT Holdings LLC do and where is it based?
FBT Holdings LLC operates in the Other sector, based in NEW YORK.
Explore related

See where FBT Holdings LLC sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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