Companies · Investment Vehicle

FM Qualified Opportunity Fund LLC

MILWAUKEE · Investment Vehicle · refined from filed group “Other

Diligence memoA one-page analyst read on FM Qualified Opportunity Fund LLC — recommendation, valuation, rhythm, risks.
$29.1M
Total raised · real
4
Rounds
0.4×
Latest step-up
Top 15%
Sector rank · raised
Series A
Latest stage · inferred · Wed Sep 27 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

FM Qualified Opportunity Fund LLC has raised $29M over 4 rounds; 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.

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

Issuer-vehicle patternmedium confidence

FM Qualified Opportunity Fund 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
5.9 yr record
Peak capital year was 2020 with $20.1M across 2 filings.
Market position
ahead of 86% of Investment Vehicle peers
Capital scale is ahead of 86% of Investment Vehicle peers; modeled value is above 36% 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 2020: $20.1M across 2 filings.
  • Largest single filing was $14.1M on 2020-08-07.
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 Investment Vehicle

FM Qualified Opportunity Fund LLC is one of 1793 Investment Vehicle companies tracked from MILWAUKEE. By capital raised it ranks in the upper tier (ahead of 86% of sector peers), and in the long tail 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
9
Investors (latest)
2023-09-27
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$125M$250M$375M$500MSeries A · 2020-08-07 Raised $14M (real) Modeled valuation $207M (est)$14M$207MSeries A2020Series A · 2020-12-01 Raised $6.0M (real) Modeled valuation $80M (est)$6.0M$80MSeries A2020Series A · 2021-06-18 Raised $6.3M (real) Modeled valuation $71M (est)$6.3M$71MSeries A2021Series A · 2023-09-27 Raised $2.7M (real) Modeled valuation $15M (est)$2.7M$15MSeries A2023+$6.0M+$6.3M+$2.7MCumulative $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
Series A$14.1M · 2020
Series A extension$6.0M · 2020
Series A extension$6.3M · 2021
Series A extension$2.7M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$15.5M
Base estimate est.
$3.7M
Conservative case
$39.9M
Upside case
$12.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks. Directional, not a quoted figure.

Series A · modeled $207.1M · 2020-08-072020Series A · modeled $80.1M · 2020-12-01Series A · modeled $71.4M · 2021-06-18Series A · modeled $15.5M · 2023-09-272023
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
55%
Survival probability
30% low · 75% high
1.35×/yr
Annual markup
1.70×/yr upside case
2.8 yr
Elapsed time used
2.8 yr actual, capped for stale marks
general
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
13 mo
Avg between rounds
$9.3M/yr
Capital velocity
5.9 yr
On record since
2020
First round
4
Rounds on file
How it compares to the market

Benchmarked against 1793 companies in Investment Vehicle. 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) 9.0× above median
This company$29.1M
Sector median$3.2M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.4× of median
This company$2.7M
Sector median$6.6M
Modeled value — vs sector median (estimate, all stages) 0.6× of median
This company$15.5M
Sector median$25.2M

Raised more than 86% of sector peers (real $). Modeled value above 36% of peers (estimate).

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 A$14.1M2020-08-07$64.1M$207.1M90%
Series A$6.0M2020-12-01$27.3M$80.1M90%
Series A$6.3M2021-06-18$28.6M$71.4M90%
Series A$2.7M2023-09-27$12.3M$15.5M90%
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 A$14.1M2020-08-07
    • First recorded raise — entered as Series A.
    • 67 investors on this round.
  2. Series A$6.0M2020-12-01
    • Raised 4 mo later.
    • Round 2.4× smaller than the prior — bridge or down round.
    • 33 investors on this round.
  3. Series A$6.3M2021-06-18
    • Raised 7 mo later.
    • Round roughly the size of the prior one.
    • 39 investors on this round.
  4. Series A$2.7M2023-09-27
    • Raised 27 mo later.
    • Round 2.3× smaller than the prior — bridge or down round.
    • 9 investors on this round.
Intelligence
2024 ~Q4
Modeled next raise · ~13mo cadence
$2.7M
Modeled next size est.range $2.7M$4.3M
0.4×
Last step-up
$9.3M/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
PAUL SWEENEY8 other2020-08
Ted Kellner1 other2020-08
Registry & provenance

FM Qualified Opportunity Fund 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
1822018
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
ADVENTUS MINING CorpMining & ResourcesSeries A$11.5M$1.6Mnetwork1 shared operator · same stage
New Gold Inc. /FIOtherSeries A$9.6M$75.8Mnetwork1 shared operator · same stage
ECC Holdings, LLCManufacturingSeries A$7.5M$49.9Mnetwork1 shared operator · same stage
Magma Energy CorpOther EnergySeries B$18.2M$211.6Mnetwork1 shared operator
PSCP Power, LLCEnergy / ClimateSeed$3.0M$24.9Mnetwork1 shared operator
Prime Mining Corp.Mining & ResourcesPre-Seed$691K$4.6Mnetwork1 shared operator
Novo Group IncOtherPre-Seed$555K$12.8Mnetwork1 shared operator
Frequently asked
How much funding has FM Qualified Opportunity Fund LLC raised?
FM Qualified Opportunity Fund LLC has raised approximately $29.1M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is FM Qualified Opportunity Fund LLC's estimated valuation?
Provath's modeled valuation for FM Qualified Opportunity Fund LLC is approximately $15.5M (modeled range $3.7M–$39.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is FM Qualified Opportunity Fund LLC at?
FM Qualified Opportunity Fund LLC's latest modeled financing stage is Series A. Its most recent recorded round closed around Wed Sep 27.
What does FM Qualified Opportunity Fund LLC do and where is it based?
FM Qualified Opportunity Fund LLC operates in the Investment Vehicle sector, based in MILWAUKEE.
Explore related

See where FM Qualified Opportunity Fund 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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