Seed Rounds Are Getting Bigger. The Odds of Reaching Series A Are Getting Worse.
The median seed round is now $3 million. Five years ago it was $1 million. The graduation rate to Series A has gone in the opposite direction. That is the blunt summary of data published by Crunchbase in May 2026, and...
Angel Investing in 2026: What the Data Actually Says
Angel Investing in 2026: What the Data Actually Says Seven percent of angel exits produce 75% of all the money made. That one statistic, from a landmark study of 1,137 exits conducted with support from the Angel Capital...
Syndicate Leads vs. Solo Angels: Which Approach Generates Better Returns?
Should you invest through angel syndicates or fly solo? We analyze the data on returns, deal quality, and portfolio construction to determine which approach serves investors better — and when to use each.
The Death of the 60/40 Portfolio: What Replaces It for Sophisticated Investors
The traditional 60/40 stock-bond portfolio has failed investors for three consecutive years of correlation breakdown. Here's the evidence-based case for what should replace it — and why most advisory firms won't tell you.
The Angel Investor's Guide to Portfolio Construction and Diversification
Here's a statement that will make some angel investors uncomfortable: the single most important factor in your long-term angel investing returns is not your ability to pick winners. It's your portfolio construction.