INVESTOR NOTES / 001ANGEL INVESTOR / , India
Lakshmi Narayanan
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor · India

Lakshmi Narayanan.

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
94%

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

First investment stage across 36 companies30 Seed, 4 Angel and 2 other-stage entries. Each dot represents one company.
Seed 30Angel 4Other 2

One dot = one company at first recorded investment.

36 companies · 45 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 06 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

Lakshmi Narayanan has dated investments in 36 companies. 34 first entries were at Angel, Pre-Seed or Seed (94.4%). 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 5 in the preceding window. The latest recorded investment is 2025-02-06. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

20 of 34 companies with a full 24-month observation window raised another equity round. This investor backed 2 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 7 portfolio companies; sector tags overlap. 11 first entries carry a recorded lead flag and the median first-round syndicate includes 19 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
$308K–$1.3M

The middle half of entry rounds

25th–75th percentile across 34 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 5 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
59%

Another equity round within 24 months

20 of 34 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
6%

This investor invested again within 24 months

2 of the same 34 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.

36matching companies
$525Kmedian first round (34 disclosed)
2first backed in last 24 months

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

Seed

QpiAI ↗

Developer of integrated quantum computing and artificial intelligence solutions

$6.5M total first round
Seed

Ecoil ↗

Provides tech based solutions for recycling used cooking oil

$265K 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 Tech7
B2C E-Commerce6
Auto Tech5
Commerce Enablers5
Artificial Intelligence3
Electric Vehicles3
Energy Tech3
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
Angel3 disclosed
$370K$207K–$872K
Seed29 disclosed
$514K$300K–$1.1M
Series A1 disclosed
$6.0M$6.0M–$6.0M
$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.

34
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
58.8%
20 of 34 companies

Backed again by this investor

A subset of the companies above
5.9%
2 of 34 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
Angel41 / 40 / 4
Seed2818 / 281 / 28
Series A10 / 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

The Chennai Angels

15 shared rounds · 15 companies

Latest shared round Sep 2020
02
ANGEL

Sameer Mehta ↗

14 shared rounds · 11 companies

Latest shared round Feb 2024
03
ANGEL

Chandu Nair ↗

13 shared rounds · 12 companies

Latest shared round Feb 2024
04
FIRM

Acsys Investments

11 shared rounds · 10 companies

Latest shared round Sep 2020

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.

36 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Feb 2025Seed$16MNo later round recorded
QpiAI ↗Bengaluru
Jun 2024Seed$6.5MNo later round recorded
Ecoil ↗Jaipur
Feb 2024Seed$265KNo later round recorded
Proost ↗Gurugram
Nov 2023Seed$154KNo later round recorded
Apr 2023Seed$2.7MNo later round recorded
Apr 2023Seed$3.0MNo later round recorded
SIMBYM ↗Los Angeles
Feb 2023AngelUndisclosedNo later round recorded
May 2021Seed$387KNo later round recorded
Feb 2021Angel$1.4MYes · Sep 2024
Infilect ↗Bengaluru
Sep 2020Seed$1.5MNo later round recorded
Flytta ↗Hyderabad
Sep 2020Angel$370KNo later round recorded
Jul 2020Seed$161KNo later round recorded
Jul 2020Seed$2.0MNo later round recorded
Feb 2020Seed$347KNo later round recorded
Jan 2020Seed$812KNo later round recorded
Dec 2019Seed$690KNo later round recorded
Dec 2019Series A$6.0MYes · Jan 2022
SwitchOn ↗Bengaluru
Jun 2019Seed$1.1MNo later round recorded
Apr 2019Angel$43KNo later round recorded
Aug 2018Seed$298KYes · Sep 2020
Furlenco ↗Bengaluru
Apr 2018Series C$11MYes · Sep 2018
Nov 2017Seed$487KNo later round recorded
HitWicket ↗Hyderabad
Sep 2017Seed$70KNo later round recorded
Feb 2017Seed$300KNo later round recorded
Sep 2016Seed$748KNo later round recorded
Harivara ↗Bengaluru
Jun 2016SeedUndisclosedNo later round recorded
Mar 2016Seed$294KYes · Oct 2018
Silvan ↗Bengaluru
Jan 2016Seed$514KNo later round recorded
Jan 2016Seed$373KNo later round recorded
Aug 2015Seed$1.0MNo later round recorded
Syona ↗Chennai
Jun 2015Seed$330KYes · Jun 2016
CloudCherry ↗Salt Lake City
May 2015Seed$1.0MNo later round recorded
Nov 2014Seed$1.1MNo later round recorded
Jan 2014Seed$239KYes · Mar 2016
Aug 2012Seed$500KNo later round recorded
Mar 2012Seed$535KYes · May 2017
0 more companies have undated investments

Kept in the 36-company portfolio; excluded from entry-timing calculations.

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