I review about 15-20 startup pitches per month. After losing track of three promising deal leads in one quarter, I built a simple Google Sheets tracker that changed everything.
What Most Angel Investors Get Wrong
We keep deal flow in our inbox, or worse, in our heads. Then a founder follows up and we scramble to remember who they are, what they do, and where we left things.
When you're reviewing 10+ deals monthly, you need a system. A CRM is overkill for most individual angels. A spreadsheet is perfect.
The 5-Tab System I Use
1. Deal Log (Master List)
Every pitch goes here. I track sector, stage, source, ask amount, and a subjective score. The key columns:
- Days Since Last Contact — auto-calculates daily so I never ghost a founder
- Weighted Score — pulled from my scoring matrix tab
2. Scoring Matrix
I rate each company on 5 factors: team (25%), market size (25%), traction (20%), unit economics (15%), and fit with my thesis (15%). Each gets a 1-5 rating, then it auto-computes to a 1-100 score.
3. Follow-Up Queue
This tab auto-filters deals where I haven't contacted the founder in 7+ days. Sorted by urgency. I check it every Monday.
4. Portfolio Snapshot
Captures invested companies with ownership %, valuation cap, and projected returns at 3x/5x/10x multiples. Helps me see concentration risk.
5. Contact Directory
Simple CRM for founders and co-investors — email, phone, notes.
Why This Works for Me
The discipline matters more than the tool. Having a single source of truth means:
- I never "lose" a deal in my inbox
- I can share my pipeline with co-investors
- I have data for my annual tax filings (dates, amounts)
- I can track my batting average: deals reviewed vs. deals invested
I packaged this into a template you can use immediately: Investment Deal Flow Tracker — Google Sheets
Pro tip: Start with just the Deal Log tab. Add the other tabs once you have 10+ deals. Don't over-engineer before you have deal flow to manage.
Do you use a system for tracking pitches? Drop your workflow in the comments — I'm always looking for ways to improve.
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