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

Angel investor · Park City, United States

Nate Mitchell.

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 PATTERN2020–2026
47%

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

First investment stage across 19 companies9 Seed, 0 Angel and 10 other-stage entries. Each dot represents one company.
Seed 9Angel 0Other 10

One dot = one company at first recorded investment.

19 companies · 19 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 06 Mar 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

Nate Mitchell has dated investments in 19 companies. 9 first entries were at Angel, Pre-Seed or Seed (47.4%). 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

2 first company relationships appear in the latest 24 months, compared with 9 in the preceding window. The latest recorded investment is 2025-03-06. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

5 of 17 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

Gaming is the largest displayed sector by company count, appearing in 11 portfolio companies; sector tags overlap. 0 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 ↗
01 / THE READOUT

Four signals before you pitch.

Start with observed behavior.
Every rate has a defined denominator.

01 — ROUND CONTEXT
$3.8M–$14M

The middle half of entry rounds

25th–75th percentile across 19 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 9 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
29%

Another equity round within 24 months

5 of 17 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 17 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.

19matching companies
$6.0Mmedian first round (19 disclosed)
2first backed in last 24 months

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

Series A

Welevel ↗

Provider of application development services

$5.7M total first round
Seed

2weeks ↗

Developer of experimental casual video games

$1.3M total first round
Series A

Kaedim ↗

AI-based software to convert 2D images into 3D models

$15M 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 AAll stages
Gaming11
PC & Console Gaming7
PC and Console Game Developers5
Spatial Computing5
Casual Game Developers4
Mobile Gaming4
Gaming 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
Seed9 disclosed
$3.4M$1.8M–$4.5M
Series A10 disclosed
$14M$8.2M–$17M
$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.

17
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
29.4%
5 of 17 companies

Backed again by this investor

A subset of the companies above
0%
0 of 17 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
Seed81 / 80 / 8
Series A94 / 90 / 9
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
ANGEL

Eden Chen ↗

4 shared rounds · 4 companies

Latest shared round Mar 2024
02
FIRM

Anorak Ventures

3 shared rounds · 3 companies

Latest shared round Aug 2024
03
FIRM

BITKRAFT Ventures

3 shared rounds · 3 companies

Latest shared round Mar 2025
04
ANGEL

Kevin Lin ↗

3 shared rounds · 3 companies

Latest shared round Mar 2022
05
ANGEL

Kun Gao ↗

3 shared rounds · 3 companies

Latest shared round Mar 2025
06
FIRM

a16z

3 shared rounds · 3 companies

Latest shared round Aug 2024

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.

19 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Mar 2025Series A$5.7MNo later round recorded
2weeks ↗New Orleans
Aug 2024Seed$1.3MNo later round recorded
Mar 2024Series A$15MNo later round recorded
Brain Jar Games ↗San Francisco
Dec 2023Seed$6.7MNo later round recorded
Dec 2023Seed$3.4MNo later round recorded
Aug 2023Seed$1.6MNo later round recorded
Jun 2023Seed$6.0MNo later round recorded
Gardens ↗Los Angeles
May 2023Series A$31MNo later round recorded
Hathora ↗New York City
Mar 2023Series A$7.6MNo later round recorded
Bloom ↗Oakland
Sep 2022Seed$2.5MNo later round recorded
Jun 2022Seed$4.3MNo later round recorded
Inworld AI ↗Mountain View
Mar 2022Series A$10MNo later round recorded
Feb 2022Series A$15MNo later round recorded
Dec 2021Seed$4.5MNo later round recorded
May 2021Seed$1.8MNo later round recorded
Apr 2021Series A$18MNo later round recorded
Apr 2021Series A$18MNo later round recorded
Pragma ↗Culver City
Apr 2021Series A$12MNo later round recorded
Aglet ↗London
Dec 2020Series A$4.5MNo later round recorded
0 more companies have undated investments

Kept in the 19-company portfolio; excluded from entry-timing calculations.

    RESEARCH THE FIT. THEN MAKE THE CASE.

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