INVESTOR NOTES / 001ANGEL INVESTOR / Palo Alto, United States
Naval Ravikant
KNOW THE INVESTOR. SHARPEN THE PITCH.

Angel investor · Palo Alto, United States

Naval Ravikant.

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 PATTERN2007–2026
60%

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

First investment stage across 139 companies80 Seed, 4 Angel and 55 other-stage entries. Each dot represents one company.
Seed 80Angel 4Other 55

One dot = one company at first recorded investment.

140 companies · 157 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 05 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

Naval Ravikant has dated investments in 139 companies. 84 first entries were at Angel, Pre-Seed or Seed (60.4%). 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

7 first company relationships appear in the latest 24 months, compared with 25 in the preceding window. The latest recorded investment is 2025-12-05. This describes observed activity through 2026-05-22; it does not establish current availability.

Explore the evidence ↗
03

Plan the next financing step

70 of 132 companies with a full 24-month observation window raised another equity round. This investor backed 11 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 ↗
04

Use a specific point of relevance

FinTech is the largest displayed sector by company count, appearing in 34 portfolio companies; sector tags overlap. 6 first entries carry a recorded lead flag and the median first-round syndicate includes 7 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
$2.4M–$12M

The middle half of entry rounds

25th–75th percentile across 138 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
7companies

First investments in the last 24 months

22 May 2024–22 May 2026, versus 25 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
53%

Another equity round within 24 months

70 of 132 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
8%

This investor invested again within 24 months

11 of the same 132 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.

139matching companies
$5.7Mmedian first round (138 disclosed)
7first backed in last 24 months

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

Series A

Quanta ↗

Automated accounting and finance platform for startups

$15M total first round
Seed

Wabi ↗

Developer of a personal software platform with customizable mini applications

$20M total first round
Seed

Belfort ↗

Developer of hardware and algorithmic solutions for encrypted data processing

$6.0M 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
FinTech34
Web 3.024
Blockchain in Financial Services19
Cryptocurrencies17
Blockchain Infrastructure16
Artificial Intelligence14
Decentralized Finance14
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
$600K$600K–$900K
Seed80 disclosed
$3.7M$2.0M–$6.5M
Series A43 disclosed
$11M$6.0M–$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.

132
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
53%
70 of 132 companies

Backed again by this investor

A subset of the companies above
8.3%
11 of 132 companies
i

Includes first investments on or before 22 May 2024. 7 newer companies and 1 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
Angel44 / 40 / 4
Seed7541 / 758 / 75
Series A4121 / 412 / 41
Series B103 / 101 / 10
Series C10 / 10 / 1
Series D11 / 10 / 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

a16z

23 shared rounds · 21 companies

Latest shared round Nov 2025
02
ANGEL

Elad Gil ↗

13 shared rounds · 10 companies

Latest shared round Apr 2024
03
FIRM

Polychain

9 shared rounds · 8 companies

Latest shared round Jul 2022
04
FIRM

Accel

8 shared rounds · 5 companies

Latest shared round Dec 2025
06
FIRM

Coinbase

8 shared rounds · 8 companies

Latest shared round Dec 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.

139 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Quanta ↗San Francisco
Dec 2025Series A$15MNo later round recorded
Wabi ↗San Francisco
Nov 2025Seed$20MNo later round recorded
Sep 2025Seed$6.0MNo later round recorded
MicroFactory ↗San Francisco
Sep 2025Seed$1.5MNo later round recorded
Rainmaker ↗El Segundo
May 2025Series A$25MNo later round recorded
Tera AI ↗San Francisco
Mar 2025Seed$7.8MNo later round recorded
Tako ↗Patterson
Oct 2024Seed$5.7MNo later round recorded
Mystiko ↗Singapore
Mar 2024Seed$18MNo later round recorded
Feb 2024Seed$7.0MNo later round recorded
Perplexity ↗San Francisco
Jan 2024Series B$74MYes · Apr 2024
Dec 2023Series A$48MNo later round recorded
Liquid AI ↗Brookline
Dec 2023Seed$38MNo later round recorded
Proof of Play ↗New York City
Sep 2023Seed$33MNo later round recorded
Ambient ↗Sarasota
Jul 2023Seed$6.5MNo later round recorded
Replit ↗Foster City
Apr 2023Series D$97MNo later round recorded
Chroma ↗San Francisco
Apr 2023Seed$18MNo later round recorded
Apr 2023Seed$4.0MNo later round recorded
Flyby ↗Los Angeles
Apr 2023Seed$4.0MNo later round recorded
Feb 2023Seed$20MNo later round recorded
Renegade ↗San Francisco
Feb 2023Seed$3.4MNo later round recorded
Monad ↗Chicago
Feb 2023Seed$19MNo later round recorded
Monad Labs ↗New York City
Jan 2023Seed$23MNo later round recorded
Darwinium ↗San Francisco
Nov 2022Seed$10MNo later round recorded
Oct 2022Series A$40MNo later round recorded
Sep 2022Seed$12MNo later round recorded
Sep 2022Series B$20MNo later round recorded
TrueFoundry ↗San Francisco
Aug 2022Seed$2.3MNo later round recorded
Sunscreen ↗San Francisco
Jul 2022Seed$4.7MNo later round recorded
Jul 2022Seed$4.0MNo later round recorded
Jun 2022Series B$12MNo later round recorded
Jun 2022Seed$2.0MNo later round recorded
Curio ↗Santa Monica
Jun 2022Seed$3.7MNo later round recorded
Fashinza ↗Gurugram
May 2022Series B$60MNo later round recorded
TipTop ↗New York City
May 2022Series A$23MNo later round recorded
TipTop ↗Anaheim
May 2022Series A$23MNo later round recorded
Bubbles ↗San Francisco
May 2022Seed$8.5MNo later round recorded
Kabata ↗Los Angeles
May 2022Seed$2.0MNo later round recorded
Mar 2022Seed$8.5MNo later round recorded
AbstractOps ↗San Francisco
Feb 2022Seed$7.7MNo later round recorded
Stonks ↗San Francisco
Jan 2022Seed$15MNo later round recorded
Casa ↗Denver
Dec 2021Series A$21MNo later round recorded
Cal.com ↗San Francisco
Dec 2021Seed$7.4MNo later round recorded
Umbrel ↗Bangkok
Oct 2021Seed$3.0MNo later round recorded
Oct 2021Series B$60MNo later round recorded
Remix ↗San Francisco
Oct 2021Seed$3.0MNo later round recorded
Sep 2021Seed$2.2MNo later round recorded
Owner ↗Palo Alto
Aug 2021Seed$11MNo later round recorded
Command Bar ↗San Francisco
Aug 2021Seed$4.8MNo later round recorded
Jul 2021Series B$21MNo later round recorded
Jul 2021Seed$2.8MNo later round recorded
Eight Sleep ↗New York City
Jun 2021Series C$88MNo later round recorded
Solidus Labs ↗New York City
May 2021Series A$20MNo later round recorded
Panther ↗San Francisco
May 2021Seed$2.5MNo later round recorded
May 2021Series A$11MNo later round recorded
OpenEnvoy ↗Las Vegas
Apr 2021Seed$6.5MNo later round recorded
Koo ↗Bengaluru
Apr 2021AngelUndisclosedNo later round recorded
Mar 2021Series A$9.0MNo later round recorded
Causal ↗St Albans
Mar 2021Seed$5.7MYes · Mar 2022
OpenSea ↗New York City
Mar 2021Series A$23MNo later round recorded
Gumroad ↗San Francisco
Mar 2021Series A$6.0MNo later round recorded
Cohere ↗New York City
Mar 2021Seed$3.1MNo later round recorded
B12 ↗New York City
Mar 2021Series B$16MNo later round recorded
Mar 2021Series A$4.0MNo later round recorded
Feb 2021Series B$12MNo later round recorded
Feb 2021Seed$1.0MYes · Dec 2021
Descript ↗San Francisco
Jan 2021Series B$30MNo later round recorded
Metafy ↗Pittsburgh
Dec 2020Seed$3.0MNo later round recorded
Dec 2020Seed$9.0MNo later round recorded
Hashnode ↗Bengaluru
Nov 2020Seed$2.1MYes · Aug 2021
Nov 2020Seed$3.8MNo later round recorded
Axelar ↗Toronto
Nov 2020Seed$3.8MNo later round recorded
Maven ↗Remote
Nov 2020Seed$4.3MNo later round recorded
Oct 2020Seed$5.3MNo later round recorded
Hebbia ↗New York City
Oct 2020Seed$1.1MNo later round recorded
Oct 2020Seed$1.1MNo later round recorded
Polymarket ↗New York City
Oct 2020Seed$4.0MNo later round recorded
NexHealth ↗San Francisco
Jun 2020Series A$15MNo later round recorded
Magic ↗San Francisco
May 2020Seed$4.0MYes · Jul 2021
May 2020Seed$2.0MNo later round recorded
Apr 2020Series A$11MNo later round recorded
Around ↗Redwood City
Mar 2020Seed$5.2MNo later round recorded
Pipe ↗Los Angeles
Feb 2020Seed$6.0MNo later round recorded
Feb 2020Seed$3.8MYes · Jan 2022
Dec 2019Seed$1.0MNo later round recorded
Clearview AI ↗New York City
Dec 2019Series A$8.6MNo later round recorded
Instadapp ↗Hyderabad
Oct 2019Seed$2.4MNo later round recorded
Jul 2019Series A$12MNo later round recorded
Matic ↗Mountain View
Jun 2019Seed$5.6MNo later round recorded
Chartable ↗New York City
May 2019Seed$1.5MYes · Sep 2020
Agoric ↗San Francisco
May 2019Series A$4.0MYes · Nov 2021
Apr 2019Series A$5.0MNo later round recorded
Wag! ↗Los Angeles
Jan 2019Series B$37MNo later round recorded
Wheels ↗Los Angeles
Dec 2018Series A$37MNo later round recorded
Oct 2018Series A$10MNo later round recorded
Oct 2018Series A$10MNo later round recorded
Hero ↗New York City
Oct 2018Series A$12MNo later round recorded
Sep 2018Series A$31MNo later round recorded
Applied Intuition
Sep 2018Series A$12MNo later round recorded
Celo ↗San Francisco
Jun 2018Series A$6.5MNo later round recorded
Jun 2018Series A$17MNo later round recorded
O(1) Labs ↗San Francisco
May 2018Seed$3.5MNo later round recorded
Chia Network ↗San Francisco
Mar 2018Seed$3.4MYes · Aug 2020
Mar 2018Series A$12MNo later round recorded
Feb 2018Series A$12MNo later round recorded
Bitwise ↗San Francisco
Oct 2017Seed$4.0MYes · Jun 2021
Apr 2017Series A$16MNo later round recorded
Teachable ↗New York City
Mar 2017Series A$4.7MYes · Apr 2018
Aug 2016Series A$12MNo later round recorded
Numerai ↗San Francisco
Apr 2016Seed$1.5MNo later round recorded
Trusted ↗San Francisco
Mar 2016Seed$2.1MNo later round recorded
Jul 2015Seed$2.5MNo later round recorded
Immediately ↗San Francisco
May 2015Series A$2.0MNo later round recorded
Alation ↗Redwood City
Mar 2015Series A$9.0MNo later round recorded
Nov 2014Seed$1.8MNo later round recorded
Lenda ↗San Francisco
Oct 2014Seed$1.5MNo later round recorded
Aug 2014Angel$600KNo later round recorded
Product Hunt ↗San Francisco
Aug 2014Seed$880KYes · Oct 2014
Aug 2014Angel$600KNo later round recorded
Crew ↗Montreal
Apr 2014Seed$2.1MNo later round recorded
Apr 2013Series A$12MYes · Dec 2013
Kinnek ↗New York City
Nov 2012Seed$3.0MYes · Oct 2014
Nuzzel ↗San Francisco
Nov 2012Seed$1.7MNo later round recorded
MindMeld ↗San Francisco
Oct 2012Seed$2.4MNo later round recorded
Rally.org ↗San Francisco
Jun 2012Series A$7.9MNo later round recorded
Remind ↗San Francisco
Jun 2012Seed$1.0MNo later round recorded
LiveProfile ↗New York City
Jun 2011Series A$1.1MNo later round recorded
Postmates ↗San Francisco
Jun 2011Seed$1.8MNo later round recorded
Offline Labs
Mar 2011Seed$1.0MNo later round recorded
Zaarly ↗San Francisco
Mar 2011Seed$1.0MNo later round recorded
Optimizely ↗San Francisco
Nov 2010Angel$1.2MNo later round recorded
Nov 2010Seed$800KNo later round recorded
NewsCred ↗New York City
Sep 2010Seed$750KNo later round recorded
Udemy ↗San Francisco
Aug 2010Seed$1.0MNo later round recorded
MOVIECLIPS ↗Los Angeles
Aug 2010Series A$3.5MNo later round recorded
Stack Overflow ↗New York City
May 2010Series A$6.0MNo later round recorded
Stack Exchange
May 2010Series A$6.0MNo later round recorded
SnapLogic ↗San Mateo
Oct 2009Series A$2.3MNo later round recorded
X
Jul 2007Series A$100KNo later round recorded
X ↗Bastrop
Jul 2007Series A$100KNo later round recorded
1 more companies have undated investments

Kept in the 140-company portfolio; excluded from entry-timing calculations.

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