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

Angel investor · Mumbai, India

Ashish Hemrajani.

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
61%

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

First investment stage across 18 companies9 Seed, 2 Angel and 7 other-stage entries. Each dot represents one company.
Seed 9Angel 2Other 7

One dot = one company at first recorded investment.

18 companies · 21 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 18 Dec 2022
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 Hemrajani has dated investments in 18 companies. 11 first entries were at Angel, Pre-Seed or Seed (61.1%). 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

0 first company relationships appear in the latest 24 months, compared with 2 in the preceding window. The latest recorded investment is 2022-12-18. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

10 of 18 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 16 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
$489K–$4.3M

The middle half of entry rounds

25th–75th percentile across 16 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 2 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
56%

Another equity round within 24 months

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

Follow the path ↗
04 — REPEAT BACKING
11%

This investor invested again within 24 months

2 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
$3.1Mmedian first round (16 disclosed)
0first backed in last 24 months

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

Seed

Punt_Partners ↗

Provider of advertising services

$1.7M total first round
Seed

Fasthr ↗

Cloud-based interviewing platform for candidate assessment

Undisclosed total first round
Seed

VS Mani & Co ↗

Internet first brand of instant coffee powder

$518K 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-Commerce4
HR SaaS3
HRTech3
Internet First Brands3
Retail Tech3
FinTech3
EdTech2
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
Angel1 disclosed
$404K$404K–$404K
Seed8 disclosed
$1.6M$467K–$3.1M
Series A4 disclosed
$5.0M$3.5M–$7.1M
$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
55.6%
10 of 18 companies

Backed again by this investor

A subset of the companies above
11.1%
2 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
Angel20 / 20 / 2
Seed94 / 90 / 9
Series A43 / 42 / 4
Series B22 / 20 / 2
Unattributed11 / 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

Parikshit Dar ↗

13 shared rounds · 11 companies

Latest shared round Dec 2022
03
ANGEL

Kunal Shah ↗

6 shared rounds · 6 companies

Latest shared round Dec 2022
04
FIRM

3one4 Capital

5 shared rounds · 4 companies

Latest shared round Jun 2022
05
FIRM

Angel List

4 shared rounds · 4 companies

Latest shared round Dec 2022
06
FIRM

Beenext

4 shared rounds · 3 companies

Latest shared round Jun 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.

18 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Dec 2022Seed$1.7MNo later round recorded
Fasthr ↗San Francisco
Nov 2022SeedUndisclosedNo later round recorded
Mar 2022Seed$518KNo later round recorded
Jan 2022Seed$300KNo later round recorded
Jan 2022Series B$22MNo later round recorded
Nov 2021Unattributed$3.2MNo later round recorded
Nov 2021Seed$3.2MNo later round recorded
Lysto ↗Singapore
Nov 2021Seed$3.0MNo later round recorded
Oct 2021Seed$314KNo later round recorded
Kafqa ↗Bengaluru
Jun 2021Seed$1.4MNo later round recorded
Pazcare ↗Bengaluru
Apr 2021Series A$3.6MYes · Jun 2022
Believe ↗Singapore
Mar 2020Series A$9.1MNo later round recorded
Jan 2020Series B$281KNo later round recorded
Jan 2020Series A$3.4MYes · Mar 2020
Sep 2019Seed$24MNo later round recorded
Dec 2015Angel$404KNo later round recorded
Juspay ↗Bengaluru
Oct 2015Series A$6.4MNo later round recorded
Sep 2015AngelUndisclosedNo later round recorded
0 more companies have undated investments

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

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