Top Angel Investors According to Data – Updated for 2024

Looking for the best angel investors? We’ve got a list of top 50 angel investors (updated for 2024!) based on what matters—the success of their portfolio.

Some of the angels on this list such as Marc Andreessen and Chris Sacca are well-known, while others are sure to surprise you!

Ready to jump in? Let’s go!

Top Angel Investors in the U.S. by Exit Rate

What do you think of when you think about the “top angel” investors? Perhaps you think about their Twitter followers, how many investments they’ve made, or whether they graced the cover of Forbes.

Exit Rate As an Indicator of Success

This list focused on the success rate of their portfolio, which we think is a much better indicator of who are the top angel investors. In this case, our list of top angel investors is based on the proportion of the startups in which they invested that had an exit such as an acquisition or initial public offering (IPO).

Great Success Win GIF - Find & Share on GIPHY
Via Giphy

What we’ve found is that many of the angel investors with the highest rate of exits of their portfolio companies are less well-known and flying under the radar of many founders. On the other hand, many of the most popular angel investors have rather mediocre exit rates.

Our research indicates that if you are more concerned with increasing your chances of success rather than winning a popularity contest, you should focus on lesser-known angel investors.

Top 50 Angel Investors with More than 20 Portfolio Companies

RankAngel InvestorNumber of Portfolio CompaniesNumber of ExitsExit Rate
1Marc Andreessen403075.0%
2Ali Partovi352571.4%
3Bob Pasker281967.9%
4Michael Lazerow302066.7%
5Hadi Partovi412765.9%
6Andy Rankin201365.0%
7Keith Rabois624064.5%
8Tony Hsieh221463.6%
9Pejman Nozad221463.6%
10Ronald Conway965961.5%
11Farzad Nazem543361.1%
12David Tisch824858.5%
13Brian Lee362158.3%
14Timothy Ferriss261557.7%
15William Lohse281657.1%
16Mark Goines281657.1%
17Dave Morin583356.9%
18Mitchell Kapor512956.9%
19John Maloney301756.7%
20Josh James231356.5%
21Kevin Rose251456.0%
22Jeff Kearl301653.3%
23Chris Sacca402152.5%
24Bill Lee211152.4%
25Troy Carter231252.2%
26Dave McClure542851.9%
27Shervin Pishevar1206251.7%
28Roger Ehrenberg311651.6%
29Adeyemi Ajao311651.6%
30Auren Hoffman763850.0%
31Jeff Bezos281450.0%
32Ben Narasin241250.0%
33Kim Perell261350.0%
34Jonathan Abrams221150.0%
35Aaron Levie452248.9%
36Allen DeBevoise371848.6%
37Joshua Schachter663248.5%
38Thomas Lehrman311548.4%
39Reid Hoffman753648.0%
40Chamath Palihapitiya251248.0%
41Marissa Mayer231147.8%
42Erik Blachford231147.8%
43Don Dodge231147.8%
44Victor Koch211047.6%
45Ben Davenport381847.4%
46Benjamin Ling723447.2%
47Brendan Wallace532547.2%
48Gary Vaynerchuk713346.5%
49Paige Craig411946.3%
50Ullas Naik391846.2%
Data via Crunchbase
Back To The Future Great Scott GIF - Find & Share on GIPHY
via Giphy

Top 20 Angel Investors with 10-20 Portfolio Companies

We also took a look at angel investors with between 10 and 20 investments to see which ones had the highest investment rate.

The caveat here is that the investors on the following list have relatively few investments, so the correlation is undoubtedly more spurious.

RankAngel InvestorNumber of Portfolio CompaniesNumber of ExitsExit Rate
1Andy Rankin201365.0%
2Allen Morgan191263.2%
3Brad Garlinghouse191263.2%
4Jeff Clavier191263.2%
5Jawed Karim161062.5%
6Jesse Robbins171058.8%
7Don Hutchison191157.9%
8Jack Abraham191157.9%
9Matthew Luckett181055.6%
10Frank A. Bonsal191052.6%
11Mike Volpe18950.0%
12Chung Ng19947.4%
13Scott Kurnit19947.4%
14David Stern15746.7%
15Ted Leonsis20945.0%
16Tom Ryan20945.0%
17Ron Suber18844.4%
18?n c?t Chó18844.4%
19Andrew Mitchell16743.8%
20Richard Branson16743.8%
Data via Crunchbase

What jumps out at me the most about this list is how high the average exit rate is for those investors in this category. There could be a number of factors leading to this such as a high level of selectivity or their ability to actively support a smaller portfolio.

Key Learnings About Top Angel Investors

Our analysis exposed some really interesting findings explained below.

Top Angels Have Smaller Portfolios

Beyond the astronomically high exit rate of the top angel investors, it’s also fascinating to note that the top angel investors are also not the most active. In fact, many of the top fifty angels on this list have made between twenty and fifty investments.

This makes sense since investors with a smaller portfolio can be more actively engaged with their startups to help ensure success. Also, it could be that these investors see a substantial number of startups but are a lot more selective in their investments.

Top Angel Investors See Two-Thirds of Their Startups Exit

The success rate of the top angels’ portfolios is simply breathtaking! Top-ranked angel investors see a full two-thirds of their investments reach some kind of an exit. That’s mind-boggling.

Marc Andreessen tops the list with a reported 73% of his angel investments reaching an exit. Wow.

Many Top Angels Are Also Venture Capital Investors

Our list of top angel investors includes many VC investors such as Marc Andreessen, Michael Laserow, Keith Rabois, Pejman Nazod, Chris Sacca, and Reid Hoffman. (To be clear, however, the investments in this analysis only include their angel investments.)

It makes sense that VC investors also have strong angel portfolios. They have great access to high-quality investment opportunities and experience with evaluating venture-backable companies.

Kim Perell Is the Top Female Angel Investor

Unfortunately, our ranking for top angel investors is dominated by men, which I hope will change soon. Kim Perell is by far the best female angel investor according to the exit rate of her portfolio sitting in 33rd place in our ranking with 26 portfolio companies and half of her portfolio reaching an exit, which is likewise jaw-dropping.

The second-highest ranked female investor on our list is Marissa Mayer who is ranked 41st with 47.8% of her angel portfolio reaching an exit.

The Most Active Angels Have Mediocre Exit Rates

One super interesting finding is that there seems to be a bit of an inverse correlation between the number of investments that these angel investors have made and the exit rate of their portfolio.

Those angels with more than a hundred investments tend to cluster at the bottom of the ranking, as seen below:

Number of Portfolio CompaniesAngel InvestorRank by Exit RateNumber of ExitsExit Rate
428Edward Lando3344510.5%
222Naval Ravikant1766629.7%
218Fabrice Grinda1268237.6%
197Charlie Songhurst2883115.7%
191Nadav Ben-Chanoch38584.2%
185Mark Cuban2543619.5%
185Scott Belsky2553619.5%
173Gokul Rajaram349158.7%
166Daniel Curran1904627.7%
161Paul Buchheit926842.2%
155Elad Gil2832516.1%
150Alexis Ohanian1554932.7%
145Jon Oringer359117.6%
141Wei Guo2512819.9%
136Marc Benioff1454734.6%
129Scott Banister805744.2%
120Shervin Pishevar366251.7%
113Louis Beryl1933127.4%
112Justin Mateen3101412.5%
104Kevin Mahaffey2222524.0%
103Kevin Lin37854.9%
Data via Crunchbase

Of those angels with more than a hundred portfolio companies recorded on Crunchbase, Paul Buccheit, Scott Banister, and Fabrice Grinda have the highest exit rates with about a third of their investments seeing an exit as indicated in the table above.

An Important Caveat on the Data Set

As with all data, there are likely some missed or inaccurate data points. All data for this analysis came from Crunchbase, and it seems accurate enough for comparative purposes. However, I would not worry too much about whether the 26th ranked investor should really be in the 25th spot, for example.

Our team also spot-checked the exits independently, and this data point seems to be very accurate overall and a good basis for comparison.

In Conclusion

I have personally seen that startup founders are extraordinarily focused on the most active and popular angel investors. But it might be a mistake to put an outsized amount of effort in trying to reach these star angel investors.

The most active angel investors in our data set have both mediocre exit rates and relatively low diversity investment rates.

It might be better to reach out to angel investors with moderate levels of activity (e.g. 20-50 investments) since they seem to invest in startups that reach an exit.

Sergio Paluch - Managing Partner at Beta Boom -- a pre-seed VC fund

About the Author: Sergio is a Managing Partner at Beta Boom—a pre-seed and seed fund investing in tenacious underdog founders solving impactful problems.

His mission is to level the playing field for underestimated founders and empower them to build huge, impactful businesses.

Tell us about what you’re building.

If you’re seeking pre-seed or seed investment and think Beta Boom is a fit, reach out.

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More Resources: Top Pre-Seed Funds | Top Funds Investing in Women | Top Black-Led Funds | Top Latinx-Led Funds | Top Angel Investors | Best Startup Accelerators | Top FinTech Seed Funds | Top Health Tech Seed Funds | Angel Investor Guide
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