ALLEGIS CAPITAL
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Portfolio Company · Allegis Capital X

Fundamental Technologies

AI and advanced-data infrastructure platform.

Valuation As OfQ1 2026 · Mar 31, 2026
Initial Investment2024-12
Stage / SectorSeries A · AI / Deep Tech
Allegis Invested Cost
$32.5M
Across Allegis vehicles
Current Fair Value
$57.7M
Q1 2026 mark
Gross MOIC
1.77x
Fair value ÷ cost
Ownership
4.0%
Fully diluted

Fair Value Mark History

Enterprise Value Progression ($M)
As OfEVCostFair ValueMOIC
Dec 2024$930.0M$8.0M$8.0M1.00x
Sep 2025$1425.0M$32.5M
Mar 2026$1425.0M$32.5M$57.7M1.77x

Operating Metrics

GAAP Revenue ($M) — investment-date LTM through current-year estimate
MetricInv LTM202120222023202420252026ELTMNTM
GAAP Revenue ($M)32.11.031.1
EBITDA ($M)-14.6-13.8
Cash ($M)23.423.413.3
Debt ($M)
ARR ($M)
Investment-date LTM and current-year (E) revenue shown in green. Figures per Allegis valuation workpapers; unaudited.

Financing Rounds

RoundDateInvestedPost-Money EVFully Diluted Shares
Series Seed PreferredDec 2024$20.0M$70.0M
SAFE (Converted to A-1)Dec 2024$30.0M$960.0M
Series A PreferredNov 2025$225.0M$1425.0M22,582,278
Total Invested$275.0M
Company-level priced rounds and convertibles. Allegis holds a minority preferred position; see ownership above.