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

Angel investor · San Francisco, United States

David Cramer.

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 PATTERN2022–2026
88%

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

First investment stage across 16 companies14 Seed, 0 Angel and 2 other-stage entries. Each dot represents one company.
Seed 14Angel 0Other 2

One dot = one company at first recorded investment.

16 companies · 17 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 12 May 2026
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

David Cramer has dated investments in 16 companies. 14 first entries were at Angel, Pre-Seed or Seed (87.5%). 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

12 first company relationships appear in the latest 24 months, compared with 4 in the preceding window. The latest recorded investment is 2026-05-12. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

2 of 4 companies with a full 24-month observation window raised another equity round. This investor backed 0 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

Artificial Intelligence is the largest displayed sector by company count, appearing in 3 portfolio companies; sector tags overlap. 0 first entries carry a recorded lead flag and the median first-round syndicate includes 5.5 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
$2.7M–$11M

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
12companies

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
50%

Another equity round within 24 months

2 of 4 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
0%

This investor invested again within 24 months

0 of the same 4 companies. Build a financing plan around the wider investor market.

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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.

16matching companies
$4.5Mmedian first round (16 disclosed)
12first backed in last 24 months

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

Seed

White Circle ↗

Provider of automated AI vulnerability detection and protection

$11M total first round
Seed

Modem ↗

Developer of an AI platform for product feedback and task management

$4.4M total first round
Series A

Kernel ↗

Provider of AI driven web‑interaction workflows

$22M 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 AAll stages
Artificial Intelligence3
AI Infrastructure2
AI as a Service2
DevOps2
PaaS2
Software Libraries2
Marketing Analytics1
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
Seed14 disclosed
$4.2M$2.6M–$4.9M
Series A2 disclosed
$18M$16M–$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.

4
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
50%
2 of 4 companies

Backed again by this investor

A subset of the companies above
0%
0 of 4 companies
i

Includes first investments on or before 22 May 2024. 12 newer companies and 1 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
Seed42 / 40 / 4
Series A00 / 00 / 0
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

Accel

4 shared rounds · 4 companies

Latest shared round Feb 2026
02
FIRM

Y Combinator

3 shared rounds · 3 companies

Latest shared round Oct 2025
03
ANGEL

Ben Sigelman ↗

2 shared rounds · 2 companies

Latest shared round Sep 2025
04
FIRM

Founders

2 shared rounds · 2 companies

Latest shared round Sep 2025

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.

16 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
May 2026Seed$11MNo later round recorded
Modem ↗Toronto
Feb 2026Seed$4.4MNo later round recorded
Kernel ↗San Francisco
Oct 2025Series A$22MNo later round recorded
Supermemory ↗San Francisco
Oct 2025Seed$2.6MNo later round recorded
Parse ↗San Francisco
Sep 2025Seed$500KNo later round recorded
Sep 2025Seed$13MNo later round recorded
MetalBear ↗San Francisco
Sep 2025Seed$13MNo later round recorded
Trycomp ↗San Francisco
Aug 2025Seed$2.6MNo later round recorded
Jun 2025Seed$3.6MNo later round recorded
Blacksmith ↗San Francisco
Jun 2025Series A$14MNo later round recorded
Twenty ↗San Francisco
Nov 2024Seed$5.0MNo later round recorded
VoidZero ↗Palo Alto
Nov 2024Seed$4.6MNo later round recorded
Leap ↗San Francisco
Jan 2024Seed$1.4MNo later round recorded
Astral ↗New York City
Apr 2023Seed$4.0MNo later round recorded
Feb 2023Seed$4.7MNo later round recorded
Recall.ai ↗San Francisco
Dec 2022Seed$2.7MNo later round recorded
1 more companies have undated investments

Kept in the 16-company portfolio; excluded from entry-timing calculations.

  • Kernel · Seed · date unavailable
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