INVESTOR NOTES / 001ANGEL INVESTOR / Mumbai, India
Atul Goel
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor · Mumbai, India

Atul Goel.

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
63%

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

First investment stage across 19 companies12 Seed, 0 Angel and 7 other-stage entries. Each dot represents one company.
Seed 12Angel 0Other 7

One dot = one company at first recorded investment.

19 companies · 20 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 01 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

Atul Goel has dated investments in 19 companies. 12 first entries were at Angel, Pre-Seed or Seed (63.2%). 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 4 in the preceding window. The latest recorded investment is 2024-09-01. 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 18 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

EdTech is the largest displayed sector by company count, appearing in 3 portfolio companies; sector tags overlap. 4 first entries carry a recorded lead flag and the median first-round syndicate includes 7 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
$967K–$2.1M

The middle half of entry rounds

25th–75th percentile across 19 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 4 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
61%

Another equity round within 24 months

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

Follow the path ↗
04 — REPEAT BACKING
6%

This investor invested again within 24 months

1 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.

19matching companies
$1.6Mmedian first round (19 disclosed)
1first backed in last 24 months

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

Seed

Integrum Energy ↗

Provider of hybrid renewable energy solutions integrating wind and solar power

$1.8M total first round
Seed

ZenStatement ↗

AI-powered cashflow management platform for enterprises

$1.6M total first round
Series A

Leap.Club ↗

SaaS-based social platform for women professionals

$1.0M 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
EdTech3
Retail Tech3
Vernacular Platforms3
FinTech2
Social Platforms2
HealthTech2
Healthcare IT2
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
Seed12 disclosed
$1.6M$832K–$1.9M
Series A3 disclosed
$1.1M$1.0M–$1.5M
Series B2 disclosed
$8.3M$5.7M–$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
61.1%
11 of 18 companies

Backed again by this investor

A subset of the companies above
5.6%
1 of 18 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
Seed115 / 111 / 11
Series A32 / 30 / 3
Series B22 / 20 / 2
Series C11 / 10 / 1
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
FIRM

Chiratae Ventures

4 shared rounds · 4 companies

Latest shared round Mar 2021
02
FIRM

Kalaari Capital

3 shared rounds · 3 companies

Latest shared round Mar 2021
03
FIRM

Nexus Venture Partners

3 shared rounds · 2 companies

Latest shared round Mar 2019
04
FIRM

Contrarian Drishti Partners

2 shared rounds · 1 companies

Latest shared round Dec 2017
05
FIRM

Enzia

2 shared rounds · 2 companies

Latest shared round Dec 2022
06
FIRM

Summit Media

2 shared rounds · 2 companies

Latest shared round Jun 2020

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.

19 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Sep 2024Seed$1.8MNo later round recorded
Mar 2024Seed$1.6MNo later round recorded
Dec 2022Series A$1.0MNo later round recorded
Jul 2022Seed$25KNo later round recorded
Jul 2022Seed$25KNo later round recorded
Apr 2022Seed$1.6MNo later round recorded
Mar 2021Series B$14MNo later round recorded
Jan 2021Seed$2.2MNo later round recorded
Nov 2020Series A$2.0MNo later round recorded
Jun 2020Series C$4.9MNo later round recorded
Mar 2019Series A$1.1MNo later round recorded
Sadhan ↗Kolkata
Apr 2018Seed$6.0MNo later round recorded
YourQuote ↗Bengaluru
Sep 2017Seed$1.0MNo later round recorded
YSG
Mar 2017Seed$1.7MNo later round recorded
POPxo ↗Gurugram
Jan 2017Series B$3.2MNo later round recorded
Apr 2016Seed$528KNo later round recorded
Pratilipi ↗Bengaluru
Feb 2016Seed$933KYes · Dec 2017
InstaVans ↗Bengaluru
Aug 2015Seed$2.0MNo later round recorded
Mar 2015Unattributed$407KNo later round recorded
0 more companies have undated investments

Kept in the 19-company portfolio; excluded from entry-timing calculations.

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