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

Angel investor ·

Laura Modiano.

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 PATTERN2023–2026
70%

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

First investment stage across 10 companies7 Seed, 0 Angel and 3 other-stage entries. Each dot represents one company.
Seed 7Angel 0Other 3

One dot = one company at first recorded investment.

10 companies · 10 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 15 Dec 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

Laura Modiano has dated investments in 10 companies. 7 first entries were at Angel, Pre-Seed or Seed (70.0%). 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

9 first company relationships appear in the latest 24 months, compared with 1 in the preceding window. The latest recorded investment is 2025-12-15. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

1 of 1 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.

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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. 0 first entries carry a recorded lead flag and the median first-round syndicate includes 7.5 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
$3.3M–$36M

The middle half of entry rounds

25th–75th percentile across 10 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
9companies

First investments in the last 24 months

22 May 2024–22 May 2026, versus 1 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
100%

Another equity round within 24 months

1 of 1 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 1 companies. Build a financing plan around the wider investor market.

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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.

10matching companies
$6.8Mmedian first round (10 disclosed)
9first backed in last 24 months

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

Seed

Mirelo AI ↗

AI-powered music creation platform

$41M total first round
Series A

CuspAI ↗

AI-enabled platform for materials research and applications

$100M total first round
Seed

ZeroEntropy ↗

Provider of an API for human-level search in AI applications

$4.2M 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
AI Infrastructure2
FinTech2
Native AI in Financial Services2
Music Creation IT1
Music Tech1
Materials Tech1
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
Seed7 disclosed
$4.2M$3.0M–$6.8M
Series A2 disclosed
$61M$41M–$80M
Series B1 disclosed
$43M$43M–$43M
$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.

1
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
100%
1 of 1 companies

Backed again by this investor

A subset of the companies above
0%
0 of 1 companies
i

Includes first investments on or before 22 May 2024. 9 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
Seed11 / 10 / 1
Series A00 / 00 / 0
Series B00 / 00 / 0
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

Andreessen Horowitz

2 shared rounds · 2 companies

Latest shared round Dec 2025
02
FIRM

Kima Ventures

2 shared rounds · 2 companies

Latest shared round Jul 2025
03
ANGEL

Thomas Wolf ↗

2 shared rounds · 2 companies

Latest shared round Dec 2025
04
FIRM

Y Combinator

2 shared rounds · 2 companies

Latest shared round Jul 2025
05
FIRM

10x Founders

1 shared rounds · 1 companies

Latest shared round May 2025
06
FIRM

22 Ventures

1 shared rounds · 1 companies

Latest shared round Jul 2025

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.

10 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Dec 2025Seed$41MNo later round recorded
CuspAI ↗Cambridge
Sep 2025Series A$100MNo later round recorded
ZeroEntropy ↗San Francisco
Jul 2025Seed$4.2MNo later round recorded
Way ↗Helsinki
May 2025Seed$3.0MNo later round recorded
Origin ↗Canterbury
May 2025Series A$21MNo later round recorded
May 2025Series B$43MNo later round recorded
Apr 2025Seed$4.7MNo later round recorded
pyannoteAI ↗Auzeville Tolosane
Apr 2025Seed$9.0MNo later round recorded
Bluebook ↗Stockholm
Feb 2025Seed$3.0MNo later round recorded
Dec 2023Seed$1.8MNo later round recorded
0 more companies have undated investments

Kept in the 10-company portfolio; excluded from entry-timing calculations.

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