INVESTOR NOTES / 001ANGEL INVESTOR / ,
Kushal Jayesh Khandwala
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor ·

Kushal Jayesh Khandwala.

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 PATTERN2019–2026
83%

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

First investment stage across 29 companies22 Seed, 2 Angel and 5 other-stage entries. Each dot represents one company.
Seed 22Angel 2Other 5

One dot = one company at first recorded investment.

29 companies · 36 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 15 Nov 2024
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

Kushal Jayesh Khandwala has dated investments in 29 companies. 24 first entries were at Angel, Pre-Seed or Seed (82.8%). 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

1 first company relationships appear in the latest 24 months, compared with 4 in the preceding window. The latest recorded investment is 2024-11-15. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

19 of 28 companies with a full 24-month observation window raised another equity round. This investor backed 6 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

Retail Tech is the largest displayed sector by company count, appearing in 10 portfolio companies; sector tags overlap. 1 first entries carry a recorded lead flag and the median first-round syndicate includes 22 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
$265K–$2.8M

The middle half of entry rounds

25th–75th percentile across 29 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 4 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
68%

Another equity round within 24 months

19 of 28 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
21%

This investor invested again within 24 months

6 of the same 28 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.

29matching companies
$826Kmedian first round (29 disclosed)
1first backed in last 24 months

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

Seed

Sisir Radar ↗

Provider of advanced synthetic aperture radar systems

$1.5M total first round
Seed

InfinityBox ↗

Provider of integrated facilities management and sustainability operations solutions

$495K total first round
Seed

Crest ↗

Provider of AI & web-based supply chain operational planning solutions

$803K 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
Retail Tech10
B2C E-Commerce7
Food Tech4
FinTech4
Commerce Enablers4
Food & Beverage Products3
B2B E-Commerce3
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
$143K$81K–$204K
Seed22 disclosed
$649K$274K–$1.4M
Series A3 disclosed
$3.5M$3.2M–$4.3M
$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.

28
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
67.9%
19 of 28 companies

Backed again by this investor

A subset of the companies above
21.4%
6 of 28 companies
i

Includes first investments on or before 22 May 2024. 1 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
Angel20 / 20 / 2
Seed2114 / 212 / 21
Series A33 / 33 / 3
Series B11 / 10 / 1
Series C11 / 11 / 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

LetsVenture

11 shared rounds · 10 companies

Latest shared round Jun 2023
02
FIRM

Faad Capital

9 shared rounds · 8 companies

Latest shared round Feb 2023
03
FIRM

Venture Catalysts

7 shared rounds · 6 companies

Latest shared round Jun 2023
04
FIRM

We Founder Circle

5 shared rounds · 4 companies

Latest shared round Jun 2023
05
FIRM

100Unicorns

4 shared rounds · 4 companies

Latest shared round Oct 2021
06
FIRM

Angel List

4 shared rounds · 4 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.

29 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Nov 2024Seed$1.5MNo later round recorded
Feb 2023Seed$495KNo later round recorded
Crest ↗Bengaluru
Jan 2023Seed$803KNo later round recorded
FOG Teams ↗Sahibzada Ajit Singh Nagar
Jul 2022Seed$225KNo later round recorded
Jun 2022Seed$1.1MNo later round recorded
Mar 2022Seed$125KNo later round recorded
Dec 2021Seed$400KNo later round recorded
Dec 2021Angel$265KNo later round recorded
Nov 2021Seed$300KNo later round recorded
Nov 2021Seed$265KNo later round recorded
EsportsXO ↗Bengaluru
Nov 2021Seed$1.1MNo later round recorded
Nov 2021Seed$3.0MNo later round recorded
Oct 2021Seed$193KNo later round recorded
Oct 2021Series A$5.1MYes · Jun 2022
Oct 2021Series A$3.5MYes · Jun 2023
Sep 2021Seed$338KNo later round recorded
Crib ↗Bengaluru
Sep 2021Seed$407KYes · Feb 2023
Shop ↗Bengaluru
Sep 2021Seed$12MNo later round recorded
Jul 2021Angel$20KNo later round recorded
Hesa ↗Hyderabad
Jun 2021Seed$3.3MNo later round recorded
Jun 2021Seed$164KNo later round recorded
Jun 2021Series B$25MNo later round recorded
Apr 2021Seed$245KNo later round recorded
SumMor ↗Bengaluru
Mar 2021Seed$1.6MNo later round recorded
Mar 2021Seed$826KNo later round recorded
Mar 2021Seed$1.7MNo later round recorded
Aug 2020Seed$1.1MYes · May 2021
Sarva ↗Mumbai
Apr 2020Series A$2.8MYes · Aug 2020
Oct 2019Series C$11MYes · Sep 2021
0 more companies have undated investments

Kept in the 29-company portfolio; excluded from entry-timing calculations.

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