Diligence memo · auto-generated · as of July 2, 2026
HPA SPQ Topco, LP
HPA SPQ Topco, LP looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
HPA SPQ Topco, LP operates in Other Technology, based in NEW YORK.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
HPA SPQ Topco, LP has raised $162M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Series D+ (a $100M–$400M round).
Largest single filing: $162M on 2023-06-16.
Most recent recorded round closed around 2023-06-16.
Valuation (modeled)modeled
Provath models HPA SPQ Topco, LP at approximately $2.4B (range $902M–$3.8B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.16× the median modeled value of Series D+ Other Technology companies in 2022–2024 (75 peers) — value vs value, same stage and era. Within the normal band (116% of peer median) for its niche.
Financing rhythm & timingmixed
Last raise 3.0 yr ago; this sector typically re-raises about every 13 months.
Only one round on record and long silent — often defunct, acquired, or gone quiet.
Comparablesmixed
Capital scale ranks ahead of 98% of Other Technology peers (21302 compared).
Modeled value ranks above 99% of those peers.
Closest niche peers: Memphis Meats, Inc., Edgio, Inc., Siprocal, Inc, PacketFabric, Inc., Guess & Co. Corp.
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.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.