I wanted to understand who the most active seed investors are and which syndicates were the most prominent. For the purpose of this report, the search criteria were:
- Startups based in NYC
- First round of financing must have been between January 2010 and April 2012
- Round size between $250K and $1.5M
The research yielded interesting results. The most active investors over the time period were SV Angel and Lerer Ventures, each with a total of 17 investments. The other most active firms were RRE Ventures and Founder Collective with 15 while First Round Capital had 14.
The most active investment syndicate was SV Angel & Lerer Ventures with 9 co-investments. This is not a surprise as it was mentioned in May 2011, that the two firms would work together closely. Next was SV Angel & Founder Collective with a total of 7 co-investments followed by Lerer Ventures & Thrive Capital with 5.
When you see firms syndicating frequently, it could suggest that the firms know each other well and/or have similar investment themes; As an entrepreneur raising a seed round, knowing this information can be very helpful.
The two diagrams below help to illustrate the findings. The first is a venn diagram attempting to show some of the major investment connections while the second diagram gives a more complete view of the connections between the different firms. In each diagram, the total number of investments made by that firm is in parentheses next to their names.
All of data used for the diagrams below were from sources available to the public. The vast majority of the data was sourced from CB Insights (a NYC startup). Some of the rounds of financing are not disclosed or file State documents, so these diagrams don’t represent 100% of all financings using the criteria mentioned above.
Thank you to our Intern, Jacob Laufer, for compiling the data and putting together the diagrams.
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Thanks Shai. Very Helpful
Thanks Shai, this is interesting.
You are welcome!
u are welcome!
Wow, fantastic info! Shai & Jacob, thanks for the hard work!
Thanks Todd, you are welcome.
Do you have anything similar for the Silicon Valley, or San Francisco Bay Area? It would be very useful for those of us who are constantly living the dream. Finding appropriate Angels in the area that gets more investment than anywhere else, who are connected to VCs can be very difficult. Fortunately, there several groups with Web sights and data, but I haven’t seen anything quite like this
We are looking at doing something similar for Bay Area deals, stay tuned.
Amazing work to pull this together. Now let’s see you get really buried in data and surface the Silicon Valley “investment clubs.”
Thanks. Looking at pulling similar data for Bay Area deals.
I’m looking forward to seeing your results. With all the IPO millionaires, they become Angels and circulate with their own colleagues.
Thanks Christine. Yes, pulling off this report for bay area deals is a much larger project that we might tackle in the near future!