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

Angel investor · New York City, United States

Thomas D Lehrman.

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 PATTERN2010–2026
56%

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

First investment stage across 16 companies9 Seed, 0 Angel and 7 other-stage entries. Each dot represents one company.
Seed 9Angel 0Other 7

One dot = one company at first recorded investment.

16 companies · 16 recorded equity rounds
Dataset’s latest round 22 May 2026/Latest recorded investment 12 Jan 2022
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

Thomas D Lehrman has dated investments in 16 companies. 9 first entries were at Angel, Pre-Seed or Seed (56.2%). 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 0 in the preceding window. The latest recorded investment is 2022-01-12. This describes observed activity through 2026-05-22; it does not establish current availability.

Explore the evidence ↗
03

Plan the next financing step

10 of 16 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

B2C E-Commerce is the largest displayed sector by company count, appearing in 7 portfolio companies; sector tags overlap. 1 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
$1.2M–$7.8M

The middle half of entry rounds

25th–75th percentile across 16 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 0 in the preceding 24 months.

See the rhythm ↗
03 — NEXT FINANCING
63%

Another equity round within 24 months

10 of 16 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 16 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.

16matching companies
$2.4Mmedian first round (16 disclosed)
0first backed in last 24 months

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

Series A

Journeyfront ↗

AI-based recruitment management solution

$13M total first round
Seed

Abacum ↗

Provider of a financial planning and analysis software platform

$7.0M 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.
SectorSeedSeries ASeries BAll stages
B2C E-Commerce7
HRTech4
HealthTech3
EdTech2
Online Mom & Baby Care2
Subscription Commerce2
Healthcare Booking Platforms2
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
$1.6M$1.2M–$2.5M
Series A4 disclosed
$9.0M$4.8M–$12M
Series B3 disclosed
$10M$6.0M–$13M
$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.

16
companies with 24 months
of observable history

Raised another equity round

Any investor · within 24 months
62.5%
10 of 16 companies

Backed again by this investor

A subset of the companies above
0%
0 of 16 companies
i

Includes first investments on or before 22 May 2024. 0 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
Seed97 / 90 / 9
Series A42 / 40 / 4
Series B31 / 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

Y Combinator

3 shared rounds · 3 companies

Latest shared round Apr 2021
02
ANGEL

Avi Meir ↗

2 shared rounds · 2 companies

Latest shared round Apr 2021
03
FIRM

Creandum

2 shared rounds · 2 companies

Latest shared round Apr 2021
04
FIRM

Great Oaks Venture Capital

2 shared rounds · 2 companies

Latest shared round May 2015
05
ANGEL

Justin Kan ↗

2 shared rounds · 2 companies

Latest shared round Apr 2021
06
FIRM

K Fund

2 shared rounds · 2 companies

Latest shared round Apr 2021

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.

16 dated companies
Complete dated portfolio, ordered by first investment, newest first.
CompanyFirst backedEntry stageTotal entry roundSame investor again?
Journeyfront ↗American Fork
Jan 2022Series A$13MNo later round recorded
Apr 2021Seed$7.0MNo later round recorded
Abacum ↗New York City
Apr 2021Seed$7.0MNo later round recorded
Literati ↗Del Valle
Oct 2019Series A$12MNo later round recorded
Voro ↗New York City
Sep 2019Seed$2.5MNo later round recorded
ExecOnline ↗New York City
Jul 2017Series B$16MNo later round recorded
KidPass ↗New York City
Sep 2016Seed$1.2MNo later round recorded
Maven ↗New York City
May 2015Seed$2.3MNo later round recorded
Food52 ↗New York City
Oct 2014Series A$6.0MNo later round recorded
Floored ↗New York City
Feb 2013Seed$1.1MNo later round recorded
The Muse ↗New York City
Jan 2013Seed$1.2MNo later round recorded
H.Bloom ↗New York City
Apr 2012Series B$10MNo later round recorded
May 2011Seed$750KNo later round recorded
Aristotle Circle
Apr 2011Series B$2.0MNo later round recorded
SeatGeek ↗New York City
Nov 2010Series A$1.1MNo later round recorded
Academia ↗San Francisco
Apr 2010Seed$1.6MNo later round recorded
0 more companies have undated investments

Kept in the 16-company portfolio; excluded from entry-timing calculations.

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