INVESTOR NOTES / 001ANGEL INVESTOR / ,
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor ·

Allison Pickens.

Recorded investments.
A clearer sense of fit.

Find where your company fits, how rounds are assembled, and what happened after the first investment.

THE ENTRY PATTERN2020–2026
13%

of dated first investments
were at Angel, Pre-Seed or Seed

First investment stage across 15 companies2 Seed, 0 Angel and 13 other-stage entries. Each dot represents one company.
Seed 2Angel 0Other 13

One dot = one company at first recorded investment.

15 companies · 16 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 28 Oct 2025
THE FOUNDER’S BRIEF

Read the pattern before the pitch.

Written insights from the recorded portfolio, with the evidence linked below.

01

Start with the first entry

Allison Pickens has dated investments in 15 companies. 2 first entries were at Angel, Pre-Seed or Seed (13.3%). An early-stage founder can use the sector and stage filters to find comparable companies before approaching the investor.

Explore the evidence ↗
02

Separate activity from reputation

1 first company relationships appear in the latest 24 months, compared with 5 in the preceding window. The latest recorded investment is 2025-10-28. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

5 of 14 companies with a full 24-month observation window raised another equity round. This investor backed 1 of those companies again within that window. The difference is a reason to research the wider syndicate, rather than assume the same investor will fund the next round.

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04

Use a specific point of relevance

Sales Force Automation is the largest displayed sector by company count, appearing in 3 portfolio companies; sector tags overlap. 0 first entries carry a recorded lead flag and the median first-round syndicate includes 8 other named backers. Shared rounds are evidence of co-investment, not evidence of an introduction route.

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01 / THE READOUT

Four signals before you pitch.

Start with observed behavior.
Every rate has a defined denominator.

01 — ROUND CONTEXT
$8.8M–$29M

The middle half of entry rounds

25th–75th percentile across 15 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
1companies

First investments in the last 24 months

22 May 2024–22 May 2026, versus 5 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
36%

Another equity round within 24 months

5 of 14 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
7%

This investor invested again within 24 months

1 of the same 14 companies. Build a financing plan around the wider investor market.

Explore co-investors ↗
02 / FIND YOUR FIT

Where does your company sit?

Choose your sector and stage to find
companies he first backed in that space.

YOUR COMPANY

A match means a recorded investment in this category. It does not establish current interest or availability.

15matching companies
$17Mmedian first round (15 disclosed)
1first backed in last 24 months

All sectors · All entry stages. Round amounts are total financing, in USD.

Series A

Waldo ↗

Cloud-based platform for enterprise search

$10M total first round
Series A

Pipedreams ↗

Provider of home maintenance services

$26M total first round
Series C

MaintainX ↗

Provider of a platform for maintenance and operations management solutions

$50M total first round
Explore matching portfolio companies ↓

The sector × stage map

First investments · companies can appear in more than one sector
Number of first investments by sector and entry stage. Select a cell to explore companies.
SectorSeedSeries ASeries BAll stages
Sales Force Automation3
Future of Work3
GRC Software2
Application Development Tools2
Cognitive Process Automation2
Robotic Process Automation2
Enterprise Collaboration2
03 / ROUND DESIGN

The round around the investor.

Use stage-specific financing ranges
to frame the size of your syndicate.

First-round size, by entry stage

USD · middle 50% and median
Seed2 disclosed
$6.1M$5.3M–$6.9M
Series A8 disclosed
$11M$9.0M–$18M
Series B4 disclosed
$37M$29M–$62M
$10K$100K$1M$10M

Logarithmic scale. A dot marks the median; the band spans the 25th–75th percentiles. These are entire rounds, not individual cheques.

04 / WHAT HAPPENS NEXT

One investment. Two different paths.

A subsequent round and repeat backing
answer different fundraising questions.

14
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
35.7%
5 of 14 companies

Backed again by this investor

A subset of the companies above
7.1%
1 of 14 companies
i

Includes first investments on or before 22 May 2024. 1 newer companies and 0 undated histories are excluded. Follow-up stops at the dataset’s latest round on 22 May 2026. These observations do not measure returns or predict a company’s outcome.

See the stage-by-stage denominators +
First stageEligible companiesNext round ≤24 moSame investor again ≤24 mo
Seed21 / 21 / 2
Series A71 / 70 / 7
Series B42 / 40 / 4
Series C11 / 10 / 1
05 / INVESTMENT RHYTHM

New names. Returning relationships.

Separate first investments from later
rounds in companies already backed.

New companiesRepeat rounds

*2026 is partial, through 22 May. Bar height counts first investments + repeat rounds; earlier years are complete calendar periods in this dataset.

06 / THE CO-INVESTOR MAP

Who else belongs on your research list?

Frequent shared rounds suggest a place
to investigate sector and stage alignment.

01
ANGEL

Scott Belsky ↗

5 shared rounds · 5 companies

Latest shared round Oct 2025
02
FIRM

Bain Capital Ventures

4 shared rounds · 3 companies

Latest shared round Dec 2023
04
ANGEL

Ankur Nagpal ↗

2 shared rounds · 2 companies

Latest shared round Feb 2022
05
FIRM

Atomico

2 shared rounds · 2 companies

Latest shared round Sep 2023
06
ANGEL

Austin Rief ↗

2 shared rounds · 2 companies

Latest shared round Feb 2022

Shared rounds establish recorded co-investment. They do not establish a personal connection, introduction route, or current willingness to invest.

07 / THE EVIDENCE

Explore the portfolio.

First investment comes first.
Amounts refer to that entry round.

15 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Waldo ↗Dallas
Oct 2025Series A$10MNo later round recorded
Mar 2024Series A$26MNo later round recorded
MaintainX ↗San Francisco
Dec 2023Series C$50MNo later round recorded
Sep 2023Series A$11MNo later round recorded
Ampersand ↗San Francisco
Apr 2023Series A$4.7MNo later round recorded
Airplane ↗San Francisco
Sep 2022Series B$32MNo later round recorded
May 2022Series A$6.0MNo later round recorded
PocketLaw ↗Stockholm
May 2022Series A$11MNo later round recorded
AbstractOps ↗San Francisco
Feb 2022Seed$7.7MNo later round recorded
WRITER ↗San Francisco
Nov 2021Series B$21MNo later round recorded
SaaS Labs ↗San Francisco
Nov 2021Series B$42MNo later round recorded
Matik ↗San Francisco
Oct 2021Series A$20MNo later round recorded
Felt ↗Oakland
Aug 2021Seed$4.5MYes · May 2022
Dooly ↗Vancouver
Mar 2021Series A$17MNo later round recorded
Mural ↗San Francisco
Aug 2020Series B$124MNo later round recorded
0 more companies have undated investments

Kept in the 15-company portfolio; excluded from entry-timing calculations.

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