Companies · Environmental Services

North Haven Stack Topco, LLC

DECATUR · Environmental Services

Diligence memoA one-page analyst read on North Haven Stack Topco, LLC — recommendation, valuation, rhythm, risks.
$196.0M
Total raised · real
1
Rounds
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Fri Jul 16 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

North Haven Stack Topco, LLC has raised $196M over 1 round; 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. Valuation uses the climate/enviro sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Dormant
  • Last raise 5.0 yr ago; this sector typically re-raises about every 11 months.
  • Only one round on record and long silent — often defunct, acquired, or gone quiet.

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

Issuer-vehicle patternmedium confidence

North Haven Stack Topco, 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
5.0 yr record
Peak capital year was 2021 with $196.0M across 1 filings.
Market position
ahead of 99% of Environmental Services peers
Capital scale is ahead of 99% of Environmental Services 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
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 2021: $196.0M across 1 filings.
  • Largest single filing was $196.0M on 2021-07-16.
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.
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 Environmental Services

North Haven Stack Topco, LLC is one of 242 Environmental Services companies tracked from DECATUR. 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
Rule 506(b)
Reg D exemption
14
Investors (latest)
2021
Year incorporated
2021-07-16
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$1.3B$2.5B$3.8B$5.0BSeries D+ · 2021-07-16 Raised $196M (real) Modeled valuation $3.9B (est)$196M$3.9BSeries D+2021

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 D+$196.0M · 2021

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 17%.

Modeled valuation trajectory
$3.9B
Base estimate est.
$1.0B
Conservative case
$7.6B
Upside case
$1.6B
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 scaled by the climate/enviro sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
78%
Survival probability
63% low · 87% high
1.25×/yr
Annual markup
1.40×/yr upside case
5.0 yr
Elapsed time used
5.0 yr actual, capped for stale marks
climate/enviro
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
5.0 yr
On record since
2021
First round
1
Rounds on file
How it compares to the market

Benchmarked against 242 companies in Environmental Services. 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) 84× above median
This company$196.0M
Sector median$2.3M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 1.0× above median
This company$196.0M
Sector median$196.0M
Modeled value — vs sector median (estimate, all stages) 155× above median
This company$3.9B
Sector median$25.3M

Raised more than 99% of sector peers (real $). Modeled value above 99% 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 D+$196.0M2021-07-16$1.6B$3.9B90%
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 D+$196.0M2021-07-16
    • First recorded raise — entered as Series D+.
    • 14 investors on this round.
Intelligence
Modeled next raise
$313.6M
Modeled next size est.range $203.9M$501.8M
Last step-up
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
JAMES ARMSTRONG9 other2021-07
John Phillips4 other2021-07
Scott Williams2 other2021-07
Christopher LeMay2021-07
Jeremy Hutchens2021-07
Laura Aymett2021-07
Ryan O'Dea2021-07
Tyler Rudman2021-07
Registry & provenance

North Haven Stack Topco, 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
1875913
SEC CIK
2021
Incorporated
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
Green Interfaith Environmental OrganizationEnvironmental ServicesSeries D+$250.0M$1.8Bsame sector · same stage
Shopify Inc.Consumer / RetailSeries D+$237.0M$978.2Mnetwork1 shared operator · same stage
Cehi Acquisition CorpEnvironmental ServicesSeries D+$109.5M$2.8Bsame sector · same stage
Infinity Resources Holdings Corp.Environmental ServicesSeries C$177.6M$59.7Msame sector
AT Sovereign Energy CorpEnvironmental ServicesSeries C$100.0M$478.4Msame sector
Liquid Environmental Solutions CorpEnvironmental ServicesSeries B$83.2M$766.5Msame sector
Streamline Innovations, Inc.Environmental ServicesSeries C$77.0M$1.9Bsame sector
WERTE CONSULTING CorpEnvironmental ServicesGrowth/Late$500.0M$4.1Bsame sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Shamrock TopCo, LPEnvironmental ServicesSeries A$94.8M83%
Northgate Environmental Management, Inc.Environmental ServicesPre-Seed$1.8M80%
Reliable One Resources, Inc.Environmental ServicesSeries A$89.3M78%
Capwell Services Inc.Environmental ServicesPre-Seed$2.6M77%
Rancho Santa Fe Mining, Inc.Environmental ServicesPre-Seed$4.0M77%
MPH Energy Midco LPEnvironmental ServicesSeed$16.7M77%
Neotop Water Systems Ltd.Environmental ServicesPre-Seed$33.7M76%
Presidio Environmemtal Services, LLCEnvironmental ServicesPre-Seed$5.9M76%
Frequently asked
How much funding has North Haven Stack Topco, LLC raised?
North Haven Stack Topco, LLC has raised approximately $196.0M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is North Haven Stack Topco, LLC's estimated valuation?
Provath's modeled valuation for North Haven Stack Topco, LLC is approximately $3.9B (modeled range $1.0B–$7.6B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is North Haven Stack Topco, LLC at?
North Haven Stack Topco, LLC's latest modeled financing stage is Series D+. Its most recent recorded round closed around Fri Jul 16.
What does North Haven Stack Topco, LLC do and where is it based?
North Haven Stack Topco, LLC operates in the Environmental Services sector, based in DECATUR.
Explore related

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