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

Angel investor · Park City, United States

Kevin Efrusy.

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 PATTERN2006–2026
14%

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

First investment stage across 21 companies3 Seed, 0 Angel and 18 other-stage entries. Each dot represents one company.
Seed 3Angel 0Other 18

One dot = one company at first recorded investment.

21 companies · 27 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 13 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

Kevin Efrusy has dated investments in 21 companies. 3 first entries were at Angel, Pre-Seed or Seed (14.3%). 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

2 first company relationships appear in the latest 24 months, compared with 2 in the preceding window. The latest recorded investment is 2026-03-13. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

10 of 19 companies with a full 24-month observation window raised another equity round. This investor backed 5 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

FinTech is the largest displayed sector by company count, appearing in 8 portfolio companies; sector tags overlap. 2 first entries carry a recorded lead flag and the median first-round syndicate includes 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
$14M–$30M

The middle half of entry rounds

25th–75th percentile across 21 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
2companies

First investments in the last 24 months

22 May 2024–22 May 2026, versus 2 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
53%

Another equity round within 24 months

10 of 19 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
26%

This investor invested again within 24 months

5 of the same 19 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.

21matching companies
$22Mmedian first round (21 disclosed)
2first backed in last 24 months

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

Seed

Lerian ↗

Cloud-based platform offering payment solutions for fintechs, and BaaS companies

$5.7M total first round
Series B

Azos ↗

Online life insurance platform for individuals

$31M total first round
Series A

Phage Lab ↗

Developer of bacteriophage treatments for animals

$11M 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
FinTech8
Commerce Enablers4
E-Commerce Enablers3
E-Commerce SaaS3
Retail SaaS3
Payments2
Internet First Insurance Platforms2
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
Seed3 disclosed
$5.7M$3.9M–$9.9M
Series A9 disclosed
$17M$12M–$27M
Series B6 disclosed
$24M$22M–$27M
$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.

19
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
52.6%
10 of 19 companies

Backed again by this investor

A subset of the companies above
26.3%
5 of 19 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 stageEligible companiesNext round ≤24 moSame investor again ≤24 mo
Seed21 / 21 / 2
Series A94 / 92 / 9
Series B52 / 50 / 5
Series C11 / 11 / 1
Series D11 / 11 / 1
Series E+11 / 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

Kaszek

8 shared rounds · 5 companies

Latest shared round Mar 2026
02
FIRM

Accel

5 shared rounds · 5 companies

Latest shared round Aug 2021
03
FIRM

FJ Labs

5 shared rounds · 5 companies

Latest shared round Nov 2021
04
FIRM

Maya Capital

4 shared rounds · 4 companies

Latest shared round Jan 2026
05
FIRM

Monashees

4 shared rounds · 3 companies

Latest shared round Jun 2023
06
FIRM

Valor Capital Group

4 shared rounds · 2 companies

Latest shared round Jun 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.

21 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Lerian ↗Sao Paulo
Jan 2026Seed$5.7MNo later round recorded
Azos ↗Sao Paulo
Feb 2025Series B$31MYes · Mar 2026
Jan 2024Series A$11MNo later round recorded
Caf ↗Venancio Aires
Jul 2022Series A$15MNo later round recorded
Zubale ↗Mexico City
Apr 2022Series A$40MYes · Nov 2023
Galena ↗Sao Paulo
Apr 2022Series A$17MNo later round recorded
Mar 2022Series A$5.4MNo later round recorded
Sami ↗Sao Paulo
Dec 2021Series A$20MYes · Jun 2023
Favo ↗San Isidro
Oct 2021Series A$27MNo later round recorded
May 2021Series E+$300MNo later round recorded
Flink ↗Xalapa
Feb 2021Series A$12MNo later round recorded
Olist ↗Curitiba
Nov 2020Series D$58MYes · Dec 2021
Nuvemshop ↗Sao Paulo
Oct 2020Series C$30MYes · Aug 2021
Sep 2020Seed$14MNo later round recorded
Jun 2020Series B$22MNo later round recorded
Hubla ↗Sao Paulo
Jun 2020Seed$2.1MYes · Nov 2021
Kovi ↗Sao Paulo
Nov 2019Series A$30MNo later round recorded
Tact ↗Sunnyvale
Dec 2016Series B$15MNo later round recorded
Doppler Labs ↗New York City
Jul 2016Series B$24MNo later round recorded
Here ↗New York City
Jul 2016Series B$24MNo later round recorded
Facebook ↗Menlo Park
Apr 2006Series B$27MNo later round recorded
0 more companies have undated investments

Kept in the 21-company portfolio; excluded from entry-timing calculations.

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