Diligence memo · auto-generated · as of July 2, 2026
Neptune Topco Holdings, LLC
Neptune Topco Holdings, LLC looks under-valued against its niche peers and is active on financing cadence.
Businessfiled
Neptune Topco Holdings, LLC operates in Other, based in Fort Worth.
Sector still resolves to a broad 'Other' bucket, so operating comparables below are weaker than for a tightly-classified peer.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Neptune Topco Holdings, LLC has raised $168M in disclosed capital across 21 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $54M on 2022-07-20.
Most recent recorded round closed around 2025-10-29.
Filings read as a recurring offering program rather than a clean venture-stage ladder — interpret stage labels and step-ups with that in mind.
Valuation (modeled)modeled
Provath models Neptune Topco Holdings, LLC at approximately $11M (range $7.2M–$14M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.04× the median modeled value of Series C Other companies in 2025–2027 (76 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 3 months.
Last raise 8 mo ago; this sector typically re-raises about every 11 months.
Raising on or ahead of the sector's normal rhythm.
The last round stepped up 2.0× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 98% of Other peers (25015 compared).
Modeled value ranks above 40% of those peers.
Closest niche peers: Premium Packaged Products LLC, Hoagie Investor Holdings, LLC, Sunset At El Paso Llc, Orion Street Capital LLC, Mozella Capital Inc..
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
Broad sector classification weakens peer comparison.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.
Recurring-offering pattern: stage-based valuation has lower applicability.