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

Angel investor ·

Ryan Holmes.

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 PATTERN2011–2026
86%

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

First investment stage across 14 companies12 Seed, 0 Angel and 2 other-stage entries. Each dot represents one company.
Seed 12Angel 0Other 2

One dot = one company at first recorded investment.

15 companies · 15 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 20 Oct 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

Ryan Holmes has dated investments in 14 companies. 12 first entries were at Angel, Pre-Seed or Seed (85.7%). 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

3 first company relationships appear in the latest 24 months, compared with 1 in the preceding window. The latest recorded investment is 2025-10-20. This describes observed activity through 2026-05-22; it does not establish current availability.

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03

Plan the next financing step

2 of 11 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

MarketingTech is the largest displayed sector by company count, appearing in 3 portfolio companies; sector tags overlap. 1 first entries carry a recorded lead flag and the median first-round syndicate includes 6.5 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
$989K–$3.5M

The middle half of entry rounds

25th–75th percentile across 13 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
3companies

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
18%

Another equity round within 24 months

2 of 11 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 11 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.

14matching companies
$2.0Mmedian first round (13 disclosed)
3first backed in last 24 months

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

Seed

Bidaya ↗

Provider of AI platform to find and draft winning proposals

$840K total first round
Series A

Superpanel ↗

Productivity tools for sales team

$5.3M total first round
Seed

Unified ↗

Cloud based API integration platform

$81K 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
MarketingTech3
HR SaaS3
HRTech3
FinTech3
Sales Force Automation2
Future of Work2
HRMS for SMBs2
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
Seed11 disclosed
$2.0M$915K–$3.5M
Series A2 disclosed
$3.7M$2.8M–$4.5M
$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.

11
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
18.2%
2 of 11 companies

Backed again by this investor

A subset of the companies above
0%
0 of 11 companies
i

Includes first investments on or before 22 May 2024. 3 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
Seed102 / 100 / 10
Series A10 / 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

LOI Venture

5 shared rounds · 5 companies

Latest shared round Oct 2025
02
FIRM

500 Global

3 shared rounds · 3 companies

Latest shared round Oct 2015
04
ANGEL

Austin Rief ↗

2 shared rounds · 2 companies

Latest shared round Jul 2021
05
FIRM

BDC

2 shared rounds · 2 companies

Latest shared round Sep 2017
06
FIRM

8-Bit Capital

1 shared rounds · 1 companies

Latest shared round Sep 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.

14 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Bidaya ↗Calgary
Oct 2025Seed$840KNo later round recorded
Superpanel ↗San Francisco
Sep 2025Series A$5.3MNo later round recorded
Oct 2024Seed$81KNo later round recorded
Jan 2024SeedUndisclosedNo later round recorded
Surf ↗Toronto
Nov 2021Seed$2.0MNo later round recorded
Sep 2021Seed$1.5MNo later round recorded
Jul 2021Seed$3.5MNo later round recorded
SoleSavy ↗Vancouver
Dec 2020Seed$2.0MNo later round recorded
Klue ↗Vancouver
Sep 2017Seed$4.0MNo later round recorded
Allay ↗San Francisco
Oct 2015Seed$3.4MNo later round recorded
Procurify ↗Vancouver
Jul 2015Seed$4.0MNo later round recorded
Immediately ↗San Francisco
May 2015Series A$2.0MNo later round recorded
PayrollHero ↗San Francisco
Feb 2013Seed$989KNo later round recorded
Nov 2011Seed$800KNo later round recorded
1 more companies have undated investments

Kept in the 15-company portfolio; excluded from entry-timing calculations.

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