INVESTOR NOTES / 001ANGEL INVESTOR / Washington, DC, United States
Arpan Sheth
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor · Washington, DC, United States

Arpan Sheth.

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 PATTERN2015–2026
57%

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

First investment stage across 14 companies8 Seed, 0 Angel and 6 other-stage entries. Each dot represents one company.
Seed 8Angel 0Other 6

One dot = one company at first recorded investment.

14 companies · 24 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 03 Apr 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

Arpan Sheth has dated investments in 14 companies. 8 first entries were at Angel, Pre-Seed or Seed (57.1%). 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

1 first company relationships appear in the latest 24 months, compared with 1 in the preceding window. The latest recorded investment is 2025-04-03. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

11 of 13 companies with a full 24-month observation window raised another equity round. This investor backed 2 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 4 portfolio companies; sector tags overlap. 1 first entries carry a recorded lead flag and the median first-round syndicate includes 20 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
$686K–$7.1M

The middle half of entry rounds

25th–75th percentile across 14 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 1 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
85%

Another equity round within 24 months

11 of 13 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
15%

This investor invested again within 24 months

2 of the same 13 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.

14matching companies
$3.0Mmedian first round (14 disclosed)
1first backed in last 24 months

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

Seed

AlienKind ↗

Restaurant serving multiple dishes and cold-pressed juices

$1.2M total first round
Seed

Osfin ↗

Software-based platform for reconciliation, invoice processing, and payments solutions

$2.0M total first round
Seed

Flash ↗

Online purchase tracking platform

$5.8M 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-Commerce4
HealthTech4
Retail Tech3
Healthcare IT3
Food Service Chains2
CFO Stack2
FinTech2
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
Seed8 disclosed
$857K$295K–$2.0M
Series A3 disclosed
$6.0M$5.0M–$12M
Series B2 disclosed
$16M$16M–$16M
$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.

13
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
84.6%
11 of 13 companies

Backed again by this investor

A subset of the companies above
15.4%
2 of 13 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
Seed77 / 72 / 7
Series A32 / 30 / 3
Series B21 / 20 / 2
Series D11 / 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.

04
FIRM

Fireside Ventures

8 shared rounds · 2 companies

Latest shared round Jun 2020
05
ANGEL

Gaurav Rekhi ↗

8 shared rounds · 2 companies

Latest shared round Mar 2021
06
FIRM

Blume Ventures

7 shared rounds · 3 companies

Latest shared round Oct 2021

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.

14 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
AlienKind ↗Bengaluru
Apr 2025Seed$1.2MNo later round recorded
Jul 2022Seed$2.0MNo later round recorded
Flash ↗Bengaluru
Apr 2022Seed$5.8MNo later round recorded
Oct 2021Series A$18MNo later round recorded
GetMega ↗Bengaluru
Sep 2021Series B$16MNo later round recorded
Jul 2021Series A$6.0MNo later round recorded
Mar 2021Seed$344KNo later round recorded
Nov 2019Series B$16MNo later round recorded
Sep 2019Series A$4.0MNo later round recorded
Flatheads ↗Bengaluru
Apr 2019Seed$515KNo later round recorded
Apr 2018Series D$7.4MNo later round recorded
THB ↗Gurugram
Sep 2016Seed$150KYes · Dec 2016
THB ↗Gurugram
Sep 2016Seed$150KYes · Dec 2016
Aug 2015Seed$2.1MNo later round recorded
0 more companies have undated investments

Kept in the 14-company portfolio; excluded from entry-timing calculations.

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