INVESTOR NOTES / 001ANGEL INVESTOR / Chicago, United States
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor · Chicago, United States

Andy Dunn.

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 PATTERN2011–2026
77%

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

First investment stage across 22 companies17 Seed, 0 Angel and 5 other-stage entries. Each dot represents one company.
Seed 17Angel 0Other 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 28 Jan 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

Andy Dunn 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.

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02

Separate activity from reputation

2 first company relationships appear in the latest 24 months, compared with 0 in the preceding window. The latest recorded investment is 2025-01-28. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

12 of 20 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

B2C E-Commerce is the largest displayed sector by company count, appearing in 10 portfolio companies; sector tags overlap. 1 first entries carry a recorded lead flag and the median first-round syndicate includes 6.5 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
$1.5M–$5.5M

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 0 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
60%

Another equity round within 24 months

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

Follow the path ↗
04 — REPEAT BACKING
5%

This investor invested again within 24 months

1 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
$2.8Mmedian first round (21 disclosed)
2first backed in last 24 months

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

Seed

Oddbird ↗

Brand of wines

Undisclosed total first round
Seed

Boardy ↗

Provider of an AI platform connecting professionals to various opportunities

$8.0M total first round
Seed

OURS ↗

Provider of virtual couples therapy and premarital counseling. It offers virtual sessions with licensed therapists, matched to couples based on their needs and preferences. The platform includes self-guided tools and resources to support relationship growth. Clients can choose from various pricing plans and easily switch therapists if needed. Services are designed to be accessible and adaptable to different relationship stages and challenges.

$5.0M 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
B2C E-Commerce10
Internet First Brands7
HealthTech4
B2C Fashion E-Commerce3
Fashion Tech3
Internet First Fashion Brands3
Beauty E-Commerce3
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
Seed16 disclosed
$2.1M$1.3M–$4.3M
Series A4 disclosed
$7.0M$5.4M–$8.9M
Series B1 disclosed
$20M$20M–$20M
$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
60%
12 of 20 companies

Backed again by this investor

A subset of the companies above
5%
1 of 20 companies
i

Includes first investments on or before 22 May 2024. 2 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
Seed158 / 151 / 15
Series A43 / 40 / 4
Series B11 / 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
FIRM

Forerunner Ventures

5 shared rounds · 4 companies

Latest shared round Jul 2020
02
FIRM

Accel

3 shared rounds · 2 companies

Latest shared round Sep 2016
03
ANGEL

Brian Spaly ↗

3 shared rounds · 3 companies

Latest shared round May 2016
04
FIRM

14W

2 shared rounds · 2 companies

Latest shared round Jul 2015
05
FIRM

BBG Ventures

2 shared rounds · 2 companies

Latest shared round Jan 2021
06
FIRM

BoxGroup

2 shared rounds · 2 companies

Latest shared round Jul 2015

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?
Oddbird ↗Gothenburg
Jan 2025SeedUndisclosedNo later round recorded
Boardy ↗Toronto
Jan 2025Seed$8.0MNo later round recorded
OURS ↗Houston
May 2022Seed$5.0MNo later round recorded
Kabata ↗Los Angeles
May 2022Seed$2.0MNo later round recorded
Varos ↗San Francisco
Feb 2022Seed$4.0MNo later round recorded
BelliWelli ↗Los Angeles
Mar 2021Seed$1.0MNo later round recorded
Alula ↗New York City
Jan 2021Seed$2.2MNo later round recorded
Dec 2020Seed$2.8MNo later round recorded
Lex ↗New York City
Jul 2020Seed$1.5MNo later round recorded
Zeera ↗New York City
Jul 2020Seed$6.0MNo later round recorded
Caraway ↗New York City
May 2020Seed$5.3MNo later round recorded
Koio ↗New York City
May 2016Seed$1.3MNo later round recorded
Away ↗Austin
Aug 2015Seed$2.5MYes · Sep 2016
Lola ↗New York City
Jul 2015Seed$1.2MNo later round recorded
Dec 2014Series A$5.5MNo later round recorded
Glossier ↗New York City
Nov 2014Series A$8.4MNo later round recorded
Moment ↗Seattle
Sep 2014Seed$1.5MNo later round recorded
Sep 2014Seed$1.0MNo later round recorded
Bouqs ↗Los Angeles
Jun 2013Seed$1.1MNo later round recorded
Mar 2013Series A$5.3MNo later round recorded
Mar 2013Series B$20MNo later round recorded
Birchbox ↗New York City
Aug 2011Series A$11MNo later round recorded
0 more companies have undated investments

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

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