INVESTOR NOTES / 001ANGEL INVESTOR / Mumbai, India
Ashish Goenka
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor · Mumbai, India

Ashish Goenka.

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 PATTERN2014–2026
78%

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

First investment stage across 18 companies12 Seed, 2 Angel and 4 other-stage entries. Each dot represents one company.
Seed 12Angel 2Other 4

One dot = one company at first recorded investment.

18 companies · 22 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 22 Jul 2020
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

Ashish Goenka has dated investments in 18 companies. 14 first entries were at Angel, Pre-Seed or Seed (77.8%). 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

0 first company relationships appear in the latest 24 months, compared with 0 in the preceding window. The latest recorded investment is 2020-07-22. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

9 of 18 companies with a full 24-month observation window raised another equity round. This investor backed 3 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 6 portfolio companies; sector tags overlap. 7 first entries carry a recorded lead flag and the median first-round syndicate includes 14 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
$298K–$1.1M

The middle half of entry rounds

25th–75th percentile across 18 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
0companies

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
50%

Another equity round within 24 months

9 of 18 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
17%

This investor invested again within 24 months

3 of the same 18 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.

18matching companies
$384Kmedian first round (18 disclosed)
0first backed in last 24 months

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

Seed

RapidBox ↗

Online brand offering multi-category fashion products and sneakers

$1.1M total first round
Seed

GIVA ↗

Retailer of silver, gold, and lab-grown diamond jewellery

$325K total first round
Series A

Coolberg ↗

Private label brand of non-alcoholic beer

$3.5M 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
B2C E-Commerce6
Retail Tech5
FinTech5
Internet First Brands4
Food Tech4
Alternative Lending3
Internet First Lenders3
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
Angel2 disclosed
$259K$192K–$326K
Seed12 disclosed
$335K$274K–$564K
Series A4 disclosed
$7.1M$3.1M–$11M
$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.

18
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
50%
9 of 18 companies

Backed again by this investor

A subset of the companies above
16.7%
3 of 18 companies
i

Includes first investments on or before 22 May 2024. 0 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
Angel22 / 20 / 2
Seed125 / 122 / 12
Series A42 / 41 / 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

India Quotient

8 shared rounds · 6 companies

Latest shared round Mar 2020
03
ANGEL

Gagan Goyal ↗

6 shared rounds · 6 companies

Latest shared round Dec 2015
04
ANGEL

Kunal Bahl ↗

6 shared rounds · 4 companies

Latest shared round Jul 2020
05
ANGEL

Rohit Bansal ↗

6 shared rounds · 4 companies

Latest shared round Jul 2020
06
FIRM

Tracxn Labs

6 shared rounds · 5 companies

Latest shared round Oct 2016

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.

18 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
RapidBox ↗Bengaluru
Mar 2020Seed$1.1MNo later round recorded
GIVA ↗Bengaluru
Dec 2019Seed$325KYes · Jul 2020
May 2019Series A$3.5MNo later round recorded
Feb 2017Series A$1.6MYes · Jun 2018
Truce ↗Mumbai
Dec 2015Seed$375KYes · Oct 2016
Nov 2015Angel$393KNo later round recorded
Nov 2015Seed$110KNo later round recorded
Nov 2015Seed$229KNo later round recorded
Oct 2015Seed$162KNo later round recorded
Drivezy ↗Bengaluru
Jul 2015Seed$790KNo later round recorded
Zostel ↗Gurugram
Jul 2015Series A$14MNo later round recorded
Eatlo ↗Bengaluru
Jul 2015Seed$757KNo later round recorded
Mar 2015Angel$125KNo later round recorded
Mar 2015Seed$500KNo later round recorded
Feb 2015Series A$11MNo later round recorded
Feb 2015Seed$289KNo later round recorded
Dec 2014Seed$335KNo later round recorded
Dec 2014Seed$335KNo later round recorded
0 more companies have undated investments

Kept in the 18-company portfolio; excluded from entry-timing calculations.

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