Angel investor · San Francisco, United States
Recorded investments.
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of dated first investments
were at Angel, Pre-Seed or Seed
One dot = one company at first recorded investment.
Written insights from the recorded portfolio, with the evidence linked below.
Nat Friedman has dated investments in 70 companies. 29 first entries were at Angel, Pre-Seed or Seed (41.4%). An early-stage founder can use the sector and stage filters to find comparable companies before approaching the investor.
Explore the evidence ↗14 first company relationships appear in the latest 24 months, compared with 31 in the preceding window. The latest recorded investment is 2025-10-13. This describes observed activity through 2026-05-22; it does not establish current availability.
Explore the evidence ↗30 of 56 companies with a full 24-month observation window raised another equity round. This investor backed 10 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 ↗Artificial Intelligence is the largest displayed sector by company count, appearing in 29 portfolio companies; sector tags overlap. 11 first entries carry a recorded lead flag and the median first-round syndicate includes 6 other named backers. Shared rounds are evidence of co-investment, not evidence of an introduction route.
Explore the evidence ↗Start with observed behavior.
Every rate has a defined denominator.
25th–75th percentile across 66 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.
Size your round ↗22 May 2024–22 May 2026, versus 31 in the preceding 24 months.
See the rhythm ↗30 of 56 companies with a full observation window. The next round can include any investor.
Follow the path ↗10 of the same 56 companies. Build a financing plan around the wider investor market.
Explore co-investors ↗Choose your sector and stage to find
companies he first backed in that space.
A match means a recorded investment in this category. It does not establish current interest or availability.
All sectors · All entry stages. Round amounts are total financing, in USD.
Biotech startup Shellworks is focused on creating sustainable alternatives to plastic packaging by turning waste crustacean shells into biodegradable and compostable products.
$15M total first roundProvider of a browser automation platform
$5.6M total first roundDeveloper of robots to automate repetitive wet lab tasks
$11M total first round| Sector | Angel | Seed | Series A | All stages |
|---|---|---|---|---|
| Artificial Intelligence | 29 | |||
| Generative AI | 13 | |||
| AI Infrastructure | 11 | |||
| AI as a Service | 9 | |||
| Native AI in Software Development | 8 | |||
| Application Development Tools | 7 | |||
| HealthTech | 6 |
Use stage-specific financing ranges
to frame the size of your syndicate.
Logarithmic scale. A dot marks the median; the band spans the 25th–75th percentiles. These are entire rounds, not individual cheques.
A subsequent round and repeat backing
answer different fundraising questions.
Includes first investments on or before 22 May 2024. 14 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.
| First stage | Eligible companies | Next round ≤24 mo | Same investor again ≤24 mo |
|---|---|---|---|
| Angel | 0 | 0 / 0 | 0 / 0 |
| Seed | 24 | 11 / 24 | 3 / 24 |
| Series A | 25 | 15 / 25 | 5 / 25 |
| Series B | 7 | 4 / 7 | 2 / 7 |
| Series D | 0 | 0 / 0 | 0 / 0 |
Separate first investments from later
rounds in companies already backed.
*2026 is partial, through 22 May. Bar height counts first investments + repeat rounds; earlier years are complete calendar periods in this dataset.
Frequent shared rounds suggest a place
to investigate sector and stage alignment.
10 shared rounds · 8 companies
Latest shared round Feb 20259 shared rounds · 7 companies
Latest shared round Jun 20256 shared rounds · 3 companies
Latest shared round Nov 2024Shared rounds establish recorded co-investment. They do not establish a personal connection, introduction route, or current willingness to invest.
First investment comes first.
Amounts refer to that entry round.
| Company | First backed | Entry stage | Total entry round | Same investor again? |
|---|---|---|---|---|
Shellworks ↗London | Oct 2025 | Series A | $15M | No later round recorded |
Composite ↗San Francisco | Oct 2025 | Seed | $5.6M | No later round recorded |
Medra ↗San Francisco | Sep 2025 | Series A | $11M | No later round recorded |
XBOW ↗Seattle | Jun 2025 | Series B | $75M | No later round recorded |
Antimetal ↗New York City | Jun 2025 | Series A | $20M | No later round recorded |
NewLimit ↗San Francisco | May 2025 | Series B | $130M | No later round recorded |
Mechanize ↗San Francisco | Apr 2025 | Angel | Undisclosed | No later round recorded |
The Bot Company ↗San Francisco | Mar 2025 | Series D | $150M | No later round recorded |
Distributed Spectrum ↗Somerville | Mar 2025 | Series A | $25M | No later round recorded |
Pulse ↗San Francisco | Feb 2025 | Seed | $3.9M | No later round recorded |
Basis ↗New York City | Dec 2024 | Series A | $34M | No later round recorded |
Consensus ↗Boston | Aug 2024 | Series B | $11M | No later round recorded |
EvolutionaryScale ↗New York City | Jun 2024 | Seed | $142M | No later round recorded |
Zeta Labs ↗San Francisco | Jun 2024 | Seed | $2.9M | No later round recorded |
Suno ↗Cambridge | May 2024 | Series B | $125M | No later round recorded |
Espresso ↗New York City | May 2024 | Seed | $11M | No later round recorded |
RunPod ↗Moorestown | May 2024 | Seed | $20M | No later round recorded |
Recraft ↗San Francisco | Jan 2024 | Series A | $12M | Yes · May 2025 |
Pika Labs ↗Palo Alto | Nov 2023 | Series A | $35M | No later round recorded |
Zoo ↗Inglewood | Oct 2023 | Seed | $5.0M | No later round recorded |
Echo Labs ↗San Francisco | Sep 2023 | Seed | $2.0M | No later round recorded |
| Aug 2023 | Seed | $40M | No later round recorded | |
Socket ↗Stanford | Aug 2023 | Series A | $20M | No later round recorded |
Reka ↗Sunnyvale | Jun 2023 | Series A | $58M | No later round recorded |
Anysphere ↗San Francisco | Jun 2023 | Seed | $11M | No later round recorded |
8Flow ↗Palo Alto | Jun 2023 | Seed | $6.6M | No later round recorded |
ElevenLabs ↗New York City | May 2023 | Series A | $19M | Yes · Jan 2024 |
CoreWeave ↗Livingston | Apr 2023 | Series B | $221M | Yes · Dec 2023 |
Otterize ↗Israel | Apr 2023 | Seed | $12M | No later round recorded |
Distyl ↗San Francisco | Apr 2023 | Seed | $7.0M | Yes · Nov 2024 |
Character.ai ↗Menlo Park | Mar 2023 | Series A | $150M | No later round recorded |
Magic AI ↗San Francisco | Feb 2023 | Series A | $23M | Yes · Feb 2024 |
ValueBase ↗London | Feb 2023 | Seed | $1.6M | No later round recorded |
ValueBase ↗Durham | Feb 2023 | Seed | $1.6M | Yes · Jun 2024 |
Atomic AI ↗San Francisco | Jan 2023 | Series A | $35M | No later round recorded |
Accord ↗San Francisco | Jan 2023 | Series A | $10M | No later round recorded |
Mathpix ↗San Francisco | Jan 2023 | Seed | Undisclosed | No later round recorded |
Grafbase ↗United States | Oct 2022 | Seed | $5.0M | No later round recorded |
Airplane ↗San Francisco | Sep 2022 | Series B | $32M | No later round recorded |
Perplexity ↗San Francisco | Sep 2022 | Seed | $3.1M | Yes · Jan 2024 |
| Aug 2022 | Series B | $20M | No later round recorded | |
NEON ↗San Francisco | Jul 2022 | Series A | $30M | No later round recorded |
DX ↗Henderson | Jun 2022 | Seed | $2.0M | No later round recorded |
Strapi ↗Paris | Jun 2022 | Series B | $31M | No later round recorded |
Pulley ↗San Francisco | Jun 2022 | Seed | $4.4M | No later round recorded |
Logseq ↗New York City | May 2022 | Seed | $4.1M | No later round recorded |
Chroma ↗San Francisco | May 2022 | Seed | Undisclosed | No later round recorded |
Dagger ↗Sacramento | Mar 2022 | Series A | $20M | No later round recorded |
AssemblyAI ↗San Francisco | Mar 2022 | Series A | $28M | Yes · Dec 2023 |
Klarity ↗San Francisco | Jan 2022 | Series A | $18M | Yes · Jun 2024 |
Spice AI ↗Seattle | Oct 2021 | Seed | $1.0M | No later round recorded |
Spice AI ↗Bellevue | Oct 2021 | Seed | $1.0M | No later round recorded |
Visor ↗New York City | Sep 2021 | Seed | $5.0M | No later round recorded |
Polywork ↗New York City | Aug 2021 | Series A | $13M | Yes · Sep 2022 |
Tinybird ↗New York City | Jul 2021 | Seed | $3.0M | No later round recorded |
Medallion ↗California City | Jun 2021 | Series A | $20M | No later round recorded |
ALT ↗San Francisco | Mar 2021 | Series A | Undisclosed | No later round recorded |
WorkOS ↗San Francisco | Mar 2021 | Series A | $15M | No later round recorded |
Prefect ↗Washington, Dc | Dec 2020 | Series A | $12M | No later round recorded |
Doppler ↗Walnut | Oct 2020 | Seed | $2.3M | No later round recorded |
Deel ↗San Francisco | Aug 2020 | Series B | $30M | No later round recorded |
Axiom ↗San Francisco | Jun 2020 | Series A | $7.9M | No later round recorded |
Vercel ↗Covina | Apr 2020 | Series A | $21M | No later round recorded |
Digits ↗San Francisco | Nov 2019 | Series A | $11M | No later round recorded |
Retool ↗San Francisco | Oct 2019 | Series A | $20M | Yes · Dec 2021 |
Rookout ↗Palo Alto | Aug 2019 | Series A | $8.0M | No later round recorded |
Weights & Biases ↗San Francisco | May 2019 | Series B | $15M | Yes · Feb 2021 |
Kite ↗San Francisco | Jan 2019 | Series A | $17M | No later round recorded |
Xwing ↗San Francisco | Jul 2018 | Seed | $4.0M | No later round recorded |
Scale AI ↗San Francisco | May 2017 | Series A | $4.5M | Yes · May 2024 |
No companies match these filters. Try a broader sector or stage.
Kept in the 70-company portfolio; excluded from entry-timing calculations.
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