Diligence memo · auto-generated · as of July 2, 2026
First State Brewing Company, LLC
First State Brewing Company, LLC looks over-valued against its niche peers and is dormant on financing cadence.
Businessfiled
First State Brewing Company, LLC operates in Food & Beverage, based in MIDDLETOWN.
Sub-sector tags: food-beverage.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
First State Brewing Company, LLC has raised $660K in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Pre-Seed (a round under $1.0M).
Largest single filing: $660K on 2017-07-01.
Most recent recorded round closed around 2017-10-27.
Valuation (modeled)modeled
Provath models First State Brewing Company, LLC at approximately $15M (range $440K–$173M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 1.87× the median modeled value of Pre-Seed Food & Beverage companies in 2016–2018 (72 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 8 months.
Last raise 8.7 yr ago; this sector typically re-raises about every 15 months.
Only one round on record and long silent — often defunct, acquired, or gone quiet.
Comparablesmixed
Capital scale ranks ahead of 57% of Food & Beverage peers (567 compared).
Modeled value ranks above 75% of those peers.
Closest niche peers: Spring Creek Brewing Co LLC, Single Hill Brewing Co, Full Circle Brewing, Co. Ltd. LLC, Joyland Brewing Company, LLC, Door County Brewing Co., LLC.
Peoplefiled
2 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.