of dated first investments were at Angel, Pre-Seed or Seed
Seed 4Angel 0Other 3
One dot = one company at first recorded investment.
7 companies · 8 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 28 May 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
Elizabeth Cutler has dated investments in 7 companies. 4 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.
2 first company relationships appear in the latest 24 months, compared with 1 in the preceding window. The latest recorded investment is 2025-05-28. This describes observed activity through 2026-05-22; it does not establish current availability.
3 of 5 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.
Fitness and Wellness Chains is the largest displayed sector by company count, appearing in 1 portfolio companies; sector tags overlap. 1 first entries carry a recorded lead flag and the median first-round syndicate includes 6 other named backers. Shared rounds are evidence of co-investment, not evidence of an introduction route.
Provider of immersive sauna and ice bath wellness experiences. These experiences aim to improve physical and mental well-being through the combined effects of heat and cold therapy. Various session types are offered, including self-guided and guided options, catering to different preferences and intentions. The sessions incorporate elements such as breathwork and essential oils to enhance the overall experience. A social aspect is also integrated, fostering community and connection among participants. The facilities include saunas, cold plunge tubs, and a relaxation area.
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.
Sector
Seed
Series A
All stages
Fitness and Wellness Chains
1
Clinics
1
AdTech
1
Demand Side Ad Platforms
1
Circular Economy
1
Water Treatment Technologies
1
Water and Wastewater Management Tech
1
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
Seed4 disclosed
$3.8M$3.4M–$4.1M
Series A3 disclosed
$11M$11M–$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.
5
companies with 24 months of observable history
Raised another equity round
Any investor · within 24 months
60%
3 of 5 companies
Backed again by this investor
A subset of the companies above
20%
1 of 5 companies
i
Includes first investments on or before 22 May 2024. 2 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 stage
Eligible companies
Next round ≤24 mo
Same investor again ≤24 mo
Seed
3
2 / 3
1 / 3
Series A
2
1 / 2
0 / 2
05 / INVESTMENT RHYTHM
New names. Returning relationships.
Separate first investments from later rounds in companies already backed.
New companiesRepeat rounds
1
’162016: 1 new, 0 repeat
1
’172017: 1 new, 0 repeat
0
’182018: 0 new, 0 repeat
1
’192019: 1 new, 0 repeat
1
’202020: 1 new, 0 repeat
1
’212021: 0 new, 1 repeat
0
’222022: 0 new, 0 repeat
1
’232023: 1 new, 0 repeat
1
’242024: 1 new, 0 repeat
1
’252025: 1 new, 0 repeat
0
’26*2026: 0 new, 0 repeat
*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.
B01
FIRM
BoxGroup
2 shared rounds · 2 companies
Latest shared round Feb 2019
KF02
ANGEL
Kathy Fields
2 shared rounds · 1 companies
Latest shared round Dec 2021
5W03
FIRM
5D World
1 shared rounds · 1 companies
Latest shared round May 2025
AV04
FIRM
AG Ventures
1 shared rounds · 1 companies
Latest shared round May 2025
AC05
ANGEL
Abdur Chowdhury
1 shared rounds · 1 companies
Latest shared round Dec 2016
A06
FIRM
AlleyCorp
1 shared rounds · 1 companies
Latest shared round Nov 2023
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.
7 dated companies
Complete dated portfolio, ordered by first investment, newest first.
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