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

Angel investor · United States

Joe Lonsdale.

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 PATTERN2010–2026
44%

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

First investment stage across 27 companies11 Seed, 1 Angel and 15 other-stage entries. Each dot represents one company.
Seed 11Angel 1Other 15

One dot = one company at first recorded investment.

27 companies · 27 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 26 Mar 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

Joe Lonsdale has dated investments in 27 companies. 12 first entries were at Angel, Pre-Seed or Seed (44.4%). An early-stage founder can use the sector and stage filters to find comparable companies before approaching the investor.

Explore the evidence ↗
02

Separate activity from reputation

3 first company relationships appear in the latest 24 months, compared with 3 in the preceding window. The latest recorded investment is 2026-03-26. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

12 of 24 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.

Explore the evidence ↗
04

Use a specific point of relevance

FinTech is the largest displayed sector by company count, appearing in 4 portfolio companies; sector tags overlap. 6 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.

Explore the evidence ↗
01 / THE READOUT

Four signals before you pitch.

Start with observed behavior.
Every rate has a defined denominator.

01 — ROUND CONTEXT
$3.0M–$41M

The middle half of entry rounds

25th–75th percentile across 24 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
3companies

First investments in the last 24 months

22 May 2024–22 May 2026, versus 3 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
50%

Another equity round within 24 months

12 of 24 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 24 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.

27matching companies
$20Mmedian first round (24 disclosed)
3first backed in last 24 months

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

Series A

eMed ↗

Online test management software for employees

$200M total first round
Seed

Terra ↗

Manufacturer of autonomous defense systems for critical infrastructure protection

$12M total first round
Seed

Noah ↗

Digital wallet to save, send and spend Stablecoins and Bitcoins

$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.
SectorAngelSeedSeries AAll stages
FinTech4
Employee Health IT2
HealthTech2
Industrial Robotics2
Industry 4.02
Manufacturing Tech2
Robotics in Manufacturing2
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
Angel1 disclosed
$2.0M$2.0M–$2.0M
Seed10 disclosed
$3.6M$2.3M–$5.3M
Series A6 disclosed
$28M$20M–$40M
$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.

24
companies with 24 months
of observable history

Raised another equity round

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

Backed again by this investor

A subset of the companies above
0%
0 of 24 companies
i

Includes first investments on or before 22 May 2024. 3 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
Angel10 / 10 / 1
Seed93 / 90 / 9
Series A64 / 60 / 6
Series B54 / 50 / 5
Series C31 / 30 / 3
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
ANGEL

Peter Thiel ↗

4 shared rounds · 4 companies

Latest shared round Sep 2023
02
FIRM

Founders Fund

3 shared rounds · 3 companies

Latest shared round Mar 2022
03
FIRM

Khosla Ventures

3 shared rounds · 3 companies

Latest shared round Sep 2023
04
FIRM

Thrive Capital

3 shared rounds · 3 companies

Latest shared round Jul 2018
05
FIRM

8VC

2 shared rounds · 2 companies

Latest shared round Jan 2026

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.

27 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Mar 2026Series A$200MNo later round recorded
Jan 2026Seed$12MNo later round recorded
Noah ↗London
Jun 2025Seed$22MNo later round recorded
BeFake ↗United States
Sep 2023Seed$3.0MNo later round recorded
Aug 2023Seed$3.0MNo later round recorded
Dec 2022Series A$43MNo later round recorded
Mar 2022Series C$73MNo later round recorded
Praxis Society ↗San Francisco
Nov 2021Seed$4.2MNo later round recorded
Jun 2021Series A$30MNo later round recorded
Pipe ↗Los Angeles
Mar 2021Series B$50MNo later round recorded
Matic ↗Mountain View
Jun 2019Seed$5.6MNo later round recorded
Loft ↗Sao Paulo
Jul 2018Series A$18MNo later round recorded
May 2017Series A$25MNo later round recorded
Apr 2017Series BUndisclosedNo later round recorded
Diamond ↗San Mateo
Mar 2017Seed$2.0MNo later round recorded
Nectar ↗Palo Alto
Dec 2016Seed$4.6MNo later round recorded
Flexport ↗San Francisco
Sep 2016Series B$65MNo later round recorded
Esper ↗Redwood City
Dec 2015Angel$2.0MNo later round recorded
Artsy ↗New York City
Mar 2015Series C$25MNo later round recorded
Dec 2014Series C$25MNo later round recorded
Oscar ↗New York City
May 2014Series B$80MNo later round recorded
Vicarious ↗San Francisco
Mar 2014Series B$40MNo later round recorded
Simply ↗Tel Aviv
May 2013Seed$1.5MNo later round recorded
Printi ↗Sao Paulo
Jul 2012Series A$1.2MNo later round recorded
GetSpool ↗San Francisco
Jan 2012SeedUndisclosedNo later round recorded
Sep 2011Series AUndisclosedNo later round recorded
Zanbato ↗Mountain View
Aug 2010Seed$250KNo later round recorded
0 more companies have undated investments

Kept in the 27-company portfolio; excluded from entry-timing calculations.

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