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

Angel investor · United States

Sebastien Borget.

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 PATTERN2021–2026
70%

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

First investment stage across 20 companies13 Seed, 1 Angel and 6 other-stage entries. Each dot represents one company.
Seed 13Angel 1Other 6

One dot = one company at first recorded investment.

20 companies · 20 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 21 May 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

Sebastien Borget has dated investments in 20 companies. 14 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.

Explore the evidence ↗
02

Separate activity from reputation

3 first company relationships appear in the latest 24 months, compared with 11 in the preceding window. The latest recorded investment is 2025-05-21. 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 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

FinTech is the largest displayed sector by company count, appearing in 13 portfolio companies; sector tags overlap. 1 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
$2.9M–$5.5M

The middle half of entry rounds

25th–75th percentile across 20 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 11 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
6%

Another equity round within 24 months

1 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.

20matching companies
$4.8Mmedian first round (20 disclosed)
3first backed in last 24 months

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

Series A

VOYA Games ↗

Game development company

$5.0M total first round
Series A

Alliance Games ↗

Developer of blockchain based games

$5.0M total first round
Series A

Pixelverse ↗

NFT-based role playing game

$5.5M 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
FinTech13
Web 3.013
Blockchain in Financial Services11
Decentralized Finance11
Non Fungible Tokens11
Gaming7
Blockchain in Gaming5
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
Angel1 disclosed
$1.9M$1.9M–$1.9M
Seed13 disclosed
$4.5M$2.6M–$5.1M
Series A6 disclosed
$5.3M$5.0M–$5.9M
$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
5.9%
1 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. 3 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
Angel10 / 10 / 1
Seed131 / 130 / 13
Series A30 / 30 / 3
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

Animoca Brands

6 shared rounds · 6 companies

Latest shared round Oct 2024
03
FIRM

Bitscale Capital

2 shared rounds · 2 companies

Latest shared round Jun 2024
04
ANGEL

Brian O'Hagan

2 shared rounds · 2 companies

Latest shared round Jan 2023
05
FIRM

Every Realm

2 shared rounds · 2 companies

Latest shared round Oct 2022
06
ANGEL

Mark Cuban ↗

2 shared rounds · 2 companies

Latest shared round Aug 2022

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.

20 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
May 2025Series A$5.0MNo later round recorded
Oct 2024Series A$5.0MNo later round recorded
Jun 2024Series A$5.5MNo later round recorded
May 2024Series A$3.5MNo later round recorded
Mar 2024Series A$6.0MNo later round recorded
Feb 2024Seed$2.2MNo later round recorded
Jul 2023Seed$4.5MNo later round recorded
Jan 2023Seed$3.0MNo later round recorded
Nov 2022Seed$3.1MNo later round recorded
Nov 2022Seed$5.1MNo later round recorded
Oct 2022Angel$1.9MNo later round recorded
Oct 2022Series A$40MNo later round recorded
Aug 2022Seed$5.0MNo later round recorded
Jun 2022Seed$5.5MNo later round recorded
Mar 2022Seed$1.5MNo later round recorded
Mar 2022Seed$4.5MNo later round recorded
Sandstorm ↗United States
Mar 2022Seed$1.8MNo later round recorded
Mar 2022Seed$6.0MNo later round recorded
Jan 2022Seed$9.0MNo later round recorded
Nine Chronicles ↗United States
Aug 2021Seed$2.6MNo later round recorded
0 more companies have undated investments

Kept in the 20-company portfolio; excluded from entry-timing calculations.

    RESEARCH THE FIT. THEN MAKE THE CASE.

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