Insights

Practical notes on building and managing an angel portfolio: dilution, returns, follow-on rounds and what the numbers actually tell you.

Angel portfolios

Angel portfolios
How many startups should an angel back? The maths of finding a winner
Why one company usually decides an angel portfolio, how the chance of backing it grows with each cheque, and what a portfolio of that size costs to build.
22 October 2026 · 5 min read

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