Diligence memo · auto-generated · as of July 2, 2026
Project Pie, LLC
Project Pie, LLC looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Project Pie, LLC operates in Restaurants, based in CARLSBAD.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Project Pie, LLC has raised $4.5M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Seed (a $1.0M–$4.0M round).
Largest single filing: $2.5M on 2013-12-23.
Most recent recorded round closed around 2013-12-23.
Valuation (modeled)modeled
Provath models Project Pie, LLC at approximately $8.8M (range $1.9M–$69M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.43× the median modeled value of Seed Restaurants companies in 2013–2015 (101 peers) — value vs value, same stage and era. Within the normal band (143% of peer median) for its niche.
Financing rhythm & timingmixed
Last raise 12.5 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round was 1.3× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 84% of Restaurants peers (2292 compared).
Modeled value ranks above 82% of those peers.
Closest niche peers: MGE International Hospitality Group LLC, RDW Rudy's Fort Worth Limited Partnership, Monument Restaurants VII, LLC, Wingtime LLC, Eatery Green, LLC.
Peoplefiled
1 named person 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.