INVESTOR NOTES / 001ANGEL INVESTOR / New York City, United States
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor · New York City, United States

Gil Penchina.

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 PATTERN2012–2026
77%

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

First investment stage across 13 companies8 Seed, 2 Angel and 3 other-stage entries. Each dot represents one company.
Seed 8Angel 2Other 3

One dot = one company at first recorded investment.

14 companies · 15 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 28 Feb 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

Gil Penchina has dated investments in 13 companies. 10 first entries were at Angel, Pre-Seed or Seed (76.9%). 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 0 in the preceding window. The latest recorded investment is 2025-02-28. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

6 of 12 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

B2B E-Commerce is the largest displayed sector by company count, appearing in 2 portfolio companies; sector tags overlap. 1 first entries carry a recorded lead flag and the median first-round syndicate includes 8 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
$1.7M–$3.3M

The middle half of entry rounds

25th–75th percentile across 12 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 0 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
50%

Another equity round within 24 months

6 of 12 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 12 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.

13matching companies
$2.0Mmedian first round (12 disclosed)
1first backed in last 24 months

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

Seed

Archipelo ↗

Provider of devops security solutions

$4.0M total first round
Angel

Cointopia ↗

Crypto token sale markteplace

$3.0M total first round
Series A

Origin Protocol ↗

Blockchain platform for building decentralized marketplaces

$29M 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
B2B E-Commerce2
Sales Force Automation2
Cybersecurity1
Security Analytics1
Blockchain Services1
Blockchain Application Development Platforms1
Blockchain Infrastructure1
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
$1.8M$1.2M–$2.4M
Seed7 disclosed
$2.0M$1.7M–$2.0M
Series A2 disclosed
$16M$9.4M–$22M
$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.

12
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
50%
6 of 12 companies

Backed again by this investor

A subset of the companies above
0%
0 of 12 companies
i

Includes first investments on or before 22 May 2024. 1 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
Angel20 / 20 / 2
Seed75 / 70 / 7
Series A20 / 20 / 2
Series B11 / 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

Ridge Ventures

4 shared rounds · 4 companies

Latest shared round Jun 2016
02
FIRM

500 Global

2 shared rounds · 2 companies

Latest shared round Nov 2014
04
ANGEL

Anima Anandkumar

2 shared rounds · 1 companies

Latest shared round Feb 2025
05
ANGEL

David Weisburd

2 shared rounds · 1 companies

Latest shared round Feb 2025
06
FIRM

Dell Technologies Capital

2 shared rounds · 1 companies

Latest shared round Feb 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.

13 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Archipelo ↗San Francisco
Jan 2025Seed$4.0MYes · Feb 2025
Cointopia ↗San Francisco
Sep 2018Angel$3.0MNo later round recorded
Origin Protocol ↗San Francisco
Apr 2018Series A$29MNo later round recorded
Tina ↗Toronto
Apr 2017Angel$560KNo later round recorded
Zight ↗Boulder
Jul 2016Seed$2.0MNo later round recorded
Revcascade ↗New York City
Jun 2016Series A$3.0MNo later round recorded
Sep 2015Series B$14MNo later round recorded
Asseta ↗San Francisco
Mar 2015Seed$1.0MNo later round recorded
Contactually ↗Washington, Dc
Nov 2014Seed$2.0MNo later round recorded
Datanyze ↗San Mateo
Aug 2014Seed$2.0MNo later round recorded
UXPin ↗Gdansk
Feb 2014Seed$1.6MNo later round recorded
Nuzzel ↗San Francisco
Nov 2012Seed$1.7MNo later round recorded
Betable ↗San Francisco
Jul 2012SeedUndisclosedNo later round recorded
1 more companies have undated investments

Kept in the 14-company portfolio; excluded from entry-timing calculations.

  • Orion · Seed · date unavailable
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