INVESTOR NOTES / 001ANGEL INVESTOR / Tallinn, Estonia
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor · Tallinn, Estonia

Jaan Tallinn.

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 PATTERN2014–2026
56%

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

First investment stage across 18 companies10 Seed, 0 Angel and 8 other-stage entries. Each dot represents one company.
Seed 10Angel 0Other 8

One dot = one company at first recorded investment.

18 companies · 21 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 28 Apr 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

Jaan Tallinn has dated investments in 18 companies. 10 first entries were at Angel, Pre-Seed or Seed (55.6%). 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 0 in the preceding window. The latest recorded investment is 2022-04-28. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

7 of 18 companies with a full 24-month observation window raised another equity round. This investor backed 3 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 5 portfolio companies; sector tags overlap. 2 first entries carry a recorded lead flag and the median first-round syndicate includes 4 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
$1.4M–$23M

The middle half of entry rounds

25th–75th percentile across 18 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 0 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
39%

Another equity round within 24 months

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

Follow the path ↗
04 — REPEAT BACKING
17%

This investor invested again within 24 months

3 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
$2.4Mmedian first round (18 disclosed)
0first backed in last 24 months

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

Series A

Xolo ↗

Provider of business management solutions for independent professionals and freelancers

$3.6M total first round
Seed

Lightyear ↗

Broker-based online trading and investment platform offering stocks, ETFs, money market funds, and savings accounts

$1.5M total first round
Series A

Anthropic ↗

Provider of AI safety and research company

$124M 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
Artificial Intelligence5
FinTech4
Investment Tech3
Native AI in Software Development3
Online Trading Platforms2
AI Infrastructure2
Artificial General Intelligence2
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
Seed10 disclosed
$1.4M$754K–$2.0M
Series A6 disclosed
$9.4M$3.7M–$27M
Series B1 disclosed
$42M$42M–$42M
$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
38.9%
7 of 18 companies

Backed again by this investor

A subset of the companies above
16.7%
3 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
Seed105 / 101 / 10
Series A62 / 62 / 6
Series B10 / 10 / 1
Series C10 / 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.

02
FIRM

Cambridge Angels

2 shared rounds · 1 companies

Latest shared round Oct 2016
03
FIRM

Cambridge Innovation Capital

2 shared rounds · 1 companies

Latest shared round Oct 2016
04
FIRM

Rockspring

2 shared rounds · 2 companies

Latest shared round Oct 2016
05
FIRM

Y Combinator

2 shared rounds · 2 companies

Latest shared round Nov 2019
06
FIRM

3TS Capital Partners

1 shared rounds · 1 companies

Latest shared round Oct 2015

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?
Jun 2021Series A$3.6MNo later round recorded
Jun 2021Seed$1.5MNo later round recorded
Anthropic ↗San Francisco
May 2021Series A$124MYes · Apr 2022
May 2021Series A$31MNo later round recorded
May 2021Series B$42MNo later round recorded
Astranis ↗San Francisco
Apr 2021Series C$250MNo later round recorded
Robust ↗San Carlos
Oct 2020Series A$15MNo later round recorded
Sep 2020Seed$1.4MNo later round recorded
Nov 2019Seed$2.6MNo later round recorded
Feb 2019Seed$572KNo later round recorded
Jun 2018Seed$25MNo later round recorded
Curious ↗Helsinki
Sep 2017Series A$3.7MNo later round recorded
Instavest ↗San Francisco
Aug 2016Seed$1.7MNo later round recorded
Mezmo ↗San Jose
Jul 2016Seed$1.3MNo later round recorded
Piper ↗San Francisco
Jun 2016Seed$2.1MNo later round recorded
May 2015Seed$552KYes · Oct 2015
Undo ↗Cambridge
Apr 2015Series A$2.0MYes · Oct 2016
Lend Layer ↗San Francisco
Aug 2014Seed$400KNo later round recorded
0 more companies have undated investments

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

    RESEARCH THE FIT. THEN MAKE THE CASE.

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    your company.

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