Companies · Other

Forward Ventures, LLC

SEOUL · Other

Diligence memoA one-page analyst read on Forward Ventures, LLC — recommendation, valuation, rhythm, risks.
$540.9M
Total raised · real
8
Rounds
2.5×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Tue Nov 25 2014 00:00:00 GMT+0000 (Coordinated Universal Time)

Forward Ventures, LLC looks over-valued 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.

Over-valued
  • Modeled value is 1.88× the median modeled value of Series D+ Other companies in 2013–2015 (90 peers) — value vs value, same stage and era.
Dormant
  • Last raise 11.6 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

Forward Ventures, 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
16.0 yr record
Peak capital year was 2014 with $516.0M across 3 filings.
Market position
ahead of 99% of Other peers
Capital scale is ahead of 99% of Other peers; modeled value is above 99% 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 2014: $516.0M across 3 filings.
  • Largest single filing was $300.0M on 2014-11-25.
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

Forward Ventures, LLC is one of 25008 Other companies tracked from SEOUL. By capital raised it ranks among the largest (ahead of 99% 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
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$2.5B$5.0B$7.5B$10.0BSeed · 2010-07-06 Raised $1.4M (real) Modeled valuation $26M (est)Seed2010Series A · 2010-07-06 Raised $4.2M (real) Modeled valuation $64M (est)Series A2010Seed · 2010-07-06 Raised $1.1M (real) Modeled valuation $20M (est)Seed2010Series B · 2011-11-25 Raised $18M (real) Modeled valuation $300M (est)Series B2011Series B · 2013-12-19 Raised $107K (real) Modeled valuation $1.8M (est)Series B2013Series C · 2014-05-21 Raised $96M (real) Modeled valuation $1.6B (est)Series C2014Series D+ · 2014-05-21 Raised $120M (real) Modeled valuation $2.1B (est)Series D+2014Series D+ · 2014-11-25 Raised $300M (real) Modeled valuation $5.2B (est)Series D+2014+$4.2M+$1.1M+$18M+$107K+$96M+$120M+$300MCumulative $541M

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$1.4M · 2010
Series A$4.2M · 2010
Bridge · Series A-stage$1.1M · 2010smaller follow-on
Series B$18.0M · 2011
Series B extension$107K · 2013
Series C$96.0M · 2014
Series D+$120.0M · 2014
Series D+ extension$300.0M · 2014

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 83%.

Modeled valuation trajectory
$5.2B
Base estimate est.
$1.7B
Conservative case
$11.3B
Upside case
$2.5B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks. Directional, not a quoted figure.

Seed · modeled $26.0M · 2010-07-062010Series A · modeled $63.9M · 2010-07-06Seed · modeled $20.4M · 2010-07-06Series B · modeled $299.9M · 2011-11-25Series B · modeled $1.8M · 2013-12-19Series C · modeled $1.6B · 2014-05-21Series D+ · modeled $2.1B · 2014-05-21Series D+ · modeled $5.2B · 2014-11-252014
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
85%
Survival probability
68% low · 94% high
1.16×/yr
Annual markup
1.30×/yr upside case
6.0 yr
Elapsed time used
11.6 yr actual, capped for stale marks
general
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
8 mo
Avg between rounds
$123.2M/yr
Capital velocity
16.0 yr
On record since
2010
First round
8
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) 264× above median
This company$540.9M
Sector median$2.0M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 2.4× above median
This company$300.0M
Sector median$125.1M
Modeled value — vs sector median (estimate, all stages) 293× above median
This company$5.2B
Sector median$17.7M

Raised more than 99% of sector peers (real $). Modeled value above 99% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) 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 #8 of 90.

This companyCohort peer
$1.0B$10.0B$100.0M$1.0BCapital raised (log)Campaign Monitor Holdings (UK) Ltd · Series D+ Raised $800.9M · modeled $6.9B (est)Tomahawk Holdings, Inc. · Series D+ Raised $390.0M · modeled $6.7B (est)Cornell Capital Special Situations Partners II LP · Series D+ Raised $362.0M · modeled $6.2B (est)Liberty Resources II, LLC · Series D+ Raised $354.8M · modeled $6.1B (est)Resolute Investment Holdings, LLC · Series D+ Raised $342.2M · modeled $5.9B (est)THL Portfolio Holdings Corp. · Series D+ Raised $320.7M · modeled $5.5B (est)Stratasys Ltd. · Series D+ Raised $317.2M · modeled $5.5B (est)Ch2M Hill Companies Ltd · Series D+ Raised $300.0M · modeled $5.2B (est)Vertice Pharma UK Parent Ltd · Series D+ Raised $300.0M · modeled $5.2B (est)Ajax Resources Holdings LLC · Series D+ Raised $298.0M · modeled $5.1B (est)Sea Island Clothiers Holdings, LLC · Series D+ Raised $293.5M · modeled $5.1B (est)Forward Ventures, LLC (this company) Raised $540.9M · modeled $5.2B (est)Forward Ventures, LLC
CompanyStageRaised · realValue · estvs peer med.
Campaign Monitor Holdings (UK) LtdSeries D+$800.9M$6.9B2.50×
Tomahawk Holdings, Inc.Series D+$390.0M$6.7B2.45×
Cornell Capital Special Situations Partners II LPSeries D+$362.0M$6.2B2.27×
Liberty Resources II, LLCSeries D+$354.8M$6.1B2.23×
Resolute Investment Holdings, LLCSeries D+$342.2M$5.9B2.15×
THL Portfolio Holdings Corp.Series D+$320.7M$5.5B2.01×
Stratasys Ltd.Series D+$317.2M$5.5B1.99×
Forward Ventures, LLC this companySeries D+$540.9M$5.2B1.88×
Ch2M Hill Companies LtdSeries D+$300.0M$5.2B1.88×
Vertice Pharma UK Parent LtdSeries D+$300.0M$5.2B1.88×
Ajax Resources Holdings LLCSeries D+$298.0M$5.1B1.87×
Sea Island Clothiers Holdings, LLCSeries D+$293.5M$5.1B1.84×
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$1.4M2010-07-06$7.0M$26.0M90%
Series A$4.2M2010-07-06$19.2M$63.9M90%
Seed$1.1M2010-07-06$5.5M$20.4M90%
Series B$18.0M2011-11-25$100.3M$299.9M90%
Series B$107K2013-12-19$593K$1.8M90%
Series C$96.0M2014-05-21$640.0M$1.6B90%
Series D+$120.0M2014-05-21$1.0B$2.1B90%
Series D+$300.0M2014-11-25$2.5B$5.2B90%
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$1.4M2010-07-06
    • First recorded raise — entered as Seed.
  2. Series A$4.2M2010-07-06
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.0× larger than the prior — scaling up.
  3. Seed$1.1M2010-07-06
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.8× smaller than the prior — bridge or down round.
  4. Series B$18.0M2011-11-25
    • Raised 17 mo later, in step with the ~11 mo sector norm.
    • Round 16.4× larger than the prior — scaling up.
  5. Series B$107K2013-12-19
    • Raised again after 25 mo — slower than the ~11 mo sector norm.
    • Round 169.2× smaller than the prior — bridge or down round.
  6. Series C$96.0M2014-05-21
    • Came back fast: 5 mo vs the ~11 mo sector norm.
    • Round 899.9× larger than the prior — scaling up.
  7. Series D+$120.0M2014-05-21
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
  8. Series D+$300.0M2014-11-25
    • Came back fast: 6 mo vs the ~11 mo sector norm.
    • Round 2.5× larger than the prior — scaling up.
Intelligence
2015 ~Q3
Modeled next raise · ~8mo cadence
$750.0M
Modeled next size est.range $487.5M$1.2B
2.5×
Last step-up
$123.2M/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
Benjamin Sun8 other2014-05
Matthew Christensen7 other2013-12
Eric Kim6 other2013-12
Neil Mehta4 other2013-12
Ben Sun2 other2013-12
James Dai2 other2014-05
Ben Suk Sun2010-07
Bom Kim2013-12
Bom Suk Kim2010-07
Eric Suk Kim2011-11
Marco Bong Sool Kim2014-05
Matthew Suk Christensen2010-07
Neil Mehra2014-05
Neil Suk Mehta2011-11
Richard Song2014-05
Registry & provenance

Forward Ventures, 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
1494345
SEC CIK
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Frequently asked
How much funding has Forward Ventures, LLC raised?
Forward Ventures, LLC has raised approximately $540.9M in disclosed capital across 8 recorded financing rounds, aggregated from public filings.
What is Forward Ventures, LLC's estimated valuation?
Provath's modeled valuation for Forward Ventures, LLC is approximately $5.2B (modeled range $1.7B–$11.3B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Forward Ventures, LLC at?
Forward Ventures, LLC's latest modeled financing stage is Series D+. Its most recent recorded round closed around Tue Nov 25.
What does Forward Ventures, LLC do and where is it based?
Forward Ventures, LLC operates in the Other sector, based in SEOUL.
Explore related

See where Forward Ventures, 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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