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

Angel investor · San Francisco, United States

Steve Anderson.

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
100%

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

First investment stage across 6 companies6 Seed, 0 Angel and 0 other-stage entries. Each dot represents one company.
Seed 6Angel 0Other 0

One dot = one company at first recorded investment.

7 companies · 8 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 27 Jun 2023
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

Steve Anderson has dated investments in 6 companies. 6 first entries were at Angel, Pre-Seed or Seed (100.0%). 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

0 first company relationships appear in the latest 24 months, compared with 1 in the preceding window. The latest recorded investment is 2023-06-27. This describes observed activity through 2026-05-22; it does not establish current availability.

Explore the evidence ↗
03

Plan the next financing step

2 of 6 companies with a full 24-month observation window raised another equity round. This investor backed 1 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

Commerce Enablers is the largest displayed sector by company count, appearing in 2 portfolio companies; sector tags overlap. 4 first entries carry a recorded lead flag and the median first-round syndicate includes 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
$1.6M–$4.0M

The middle half of entry rounds

25th–75th percentile across 5 disclosed first rounds. Total round size; the investor’s own cheque is undisclosed.

Size your round ↗
02 — NEW RELATIONSHIPS
0companies

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
33%

Another equity round within 24 months

2 of 6 companies with a full observation window. The next round can include any investor.

Follow the path ↗
04 — REPEAT BACKING
17%

This investor invested again within 24 months

1 of the same 6 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.

6matching companies
$3.1Mmedian first round (5 disclosed)
0first backed in last 24 months

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

Seed

Patented ↗

AI based intellectual property management engine

$4.0M total first round
Seed

MakerSights ↗

Provider of product analytical software solutions for brands

$3.1M total first round
Seed

Crayon ↗

Market competitive intelligence platform

$5.0M 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.
SectorSeedAll stages
Commerce Enablers2
E-Commerce Enablers2
E-Commerce SaaS2
MarketingTech2
Retail SaaS2
Artificial Intelligence1
IP Management Software1
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
Seed5 disclosed
$3.1M$1.6M–$4.0M
$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.

6
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
33.3%
2 of 6 companies

Backed again by this investor

A subset of the companies above
16.7%
1 of 6 companies
i

Includes first investments on or before 22 May 2024. 0 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
Seed62 / 61 / 6
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

Eric Paley

2 shared rounds · 1 companies

Latest shared round Apr 2018
02
ANGEL

Aydin Senkut ↗

1 shared rounds · 1 companies

Latest shared round May 2007
03
FIRM

Band of Angels

1 shared rounds · 1 companies

Latest shared round Apr 2007
04
FIRM

Baseline Ventures

1 shared rounds · 1 companies

Latest shared round May 2007
05
FIRM

Baseline Ventures

1 shared rounds · 1 companies

Latest shared round Jun 2017
06
ANGEL

Ben T Smith

1 shared rounds · 1 companies

Latest shared round Apr 2011

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.

6 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Patented ↗United States
Jun 2023Seed$4.0MNo later round recorded
MakerSights ↗San Francisco
Jun 2017Seed$3.1MNo later round recorded
Nov 2016Seed$5.0MYes · Apr 2018
Apr 2011Seed$1.6MNo later round recorded
Weebly ↗United States
May 2007Seed$650KNo later round recorded
Yardbarker ↗San Francisco
Apr 2007SeedUndisclosedNo later round recorded
1 more companies have undated investments

Kept in the 7-company portfolio; excluded from entry-timing calculations.

RESEARCH THE FIT. THEN MAKE THE CASE.

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