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

Angel investor · Marbella, Spain

Andreas Mihalovits.

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 PATTERN2017–2026
77%

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

First investment stage across 22 companies14 Seed, 3 Angel and 5 other-stage entries. Each dot represents one company.
Seed 14Angel 3Other 5

One dot = one company at first recorded investment.

22 companies · 23 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 19 Sep 2024
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

Andreas Mihalovits has dated investments in 22 companies. 17 first entries were at Angel, Pre-Seed or Seed (77.3%). 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

2 first company relationships appear in the latest 24 months, compared with 3 in the preceding window. The latest recorded investment is 2024-09-19. This describes observed activity through 2026-05-22; it does not establish current availability.

Explore the evidence ↗
03

Plan the next financing step

4 of 20 companies with a full 24-month observation window raised another equity round. This investor backed 0 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.

Explore the evidence ↗
04

Use a specific point of relevance

FinTech is the largest displayed sector by company count, appearing in 5 portfolio companies; sector tags overlap. 4 first entries carry a recorded lead flag and the median first-round syndicate includes 3 other named backers. Shared rounds are evidence of co-investment, not evidence of an introduction route.

Explore the evidence ↗
01 / THE READOUT

Four signals before you pitch.

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

01 — ROUND CONTEXT
$1.2M–$2.4M

The middle half of entry rounds

25th–75th percentile across 21 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
2companies

First investments in the last 24 months

22 May 2024–22 May 2026, versus 3 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
20%

Another equity round within 24 months

4 of 20 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
0%

This investor invested again within 24 months

0 of the same 20 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.

22matching companies
$1.7Mmedian first round (21 disclosed)
2first backed in last 24 months

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

Seed

Colibid ↗

Mortgage bidding platform

$445K total first round
Series A

Dost ↗

Provider of automated invoice and accounts payable management software solutions

$1.7M total first round
Angel

CeleBreak ↗

Developer of a social media platform for soccer players

$1.2M 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.
SectorAngelSeedSeries AAll stages
FinTech5
Sports Tech4
Artificial Intelligence2
B2C E-Commerce2
Commerce Enablers2
Banking Tech2
Internet First Banks2
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
Angel3 disclosed
$1.2M$1.2M–$4.2M
Seed13 disclosed
$1.6M$1.1M–$1.9M
Series A5 disclosed
$3.3M$1.7M–$5.0M
$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.

20
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
20%
4 of 20 companies

Backed again by this investor

A subset of the companies above
0%
0 of 20 companies
i

Includes first investments on or before 22 May 2024. 2 newer companies and 1 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
Angel31 / 30 / 3
Seed132 / 130 / 13
Series A41 / 40 / 4
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
FIRM

DraperB1

3 shared rounds · 3 companies

Latest shared round Sep 2024
02
FIRM

Athos Capital

2 shared rounds · 2 companies

Latest shared round Nov 2022
04
FIRM

Demium

2 shared rounds · 2 companies

Latest shared round Sep 2024
05
FIRM

Luxor Capital Group

2 shared rounds · 2 companies

Latest shared round Jan 2022
06
FIRM

Tokavi

2 shared rounds · 2 companies

Latest shared round Sep 2024

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.

22 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Colibid ↗Valencia
Sep 2024Seed$445KNo later round recorded
Dost ↗Barcelona
Sep 2024Series A$1.7MNo later round recorded
CeleBreak ↗Barcelona
May 2023Angel$1.2MNo later round recorded
Tuvalum ↗Valencia
Nov 2022Series A$5.0MNo later round recorded
Qoala ↗Madrid
Oct 2022Seed$1.6MNo later round recorded
May 2022SeedUndisclosedNo later round recorded
Tuio ↗Madrid
Apr 2022Series A$3.3MNo later round recorded
Feb 2022Seed$1.1MNo later round recorded
Nware ↗Madrid
Jan 2022Seed$1.3MNo later round recorded
Mastersapp ↗Los Angeles
Jan 2022Seed$2.7MNo later round recorded
Picker ↗Barcelona
Nov 2021Seed$2.4MNo later round recorded
Oct 2021Seed$1.9MNo later round recorded
Sep 2021Seed$1.5MNo later round recorded
May 2021Series A$6.9MNo later round recorded
Nov 2020Series A$1.7MNo later round recorded
Jul 2020Seed$578KNo later round recorded
ObjectBox ↗Berkhamsted
Dec 2018Seed$2.0MNo later round recorded
Bnext ↗Madrid
Jul 2018Seed$1.7MNo later round recorded
Wuolah ↗Seville
Feb 2018Angel$1.2MNo later round recorded
Jul 2017Angel$7.1MNo later round recorded
Jun 2017Seed$1.6MNo later round recorded
Furgo ↗Barcelona
Jan 2017Seed$296KNo later round recorded
1 more companies have undated investments

Kept in the 22-company portfolio; excluded from entry-timing calculations.

  • Sponsoo · Seed · date unavailable
RESEARCH THE FIT. THEN MAKE THE CASE.

Your pitch starts with
your company.

Research your market ↗
RADAR / COMPANY DISCOVERY

Find the businesses
worth a closer look.

Search Marbella, Spain investor companies in Radar. Filter the company directory to explore the businesses behind your market and investor research.

Explore companies in Radar ↗
FLIAR / CUSTOM DASHBOARD SERVICE

A research dashboard.
Built for your company.

We build customized research dashboards for companies. Tell us which competitors, markets and questions matter to your team, and discuss a dashboard designed around your needs.

Discuss a custom dashboard ↗A customized service from Fliar. Contact us to discuss your requirements.
FLIAR PRISM / RESEARCH TOOL

Turn your questions
into deeper research.

Use Fliar Prism to research a company, market or topic, with reports and insights drawn from its research dataset.

Explore Fliar Prism ↗Start with the company or question you want to understand.
CONTINUE YOUR RESEARCH

Continue with Radar

Sign in to Radar to continue researching this investor.

Sign in to Radar ↗