# David Chang

> David Chang is a seed investor at TBD Angels backing Artificial Intelligence and Software. See 32 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [TBD Angels](https://shizune.co/investors/profile/tbd-angels)
- Location: Boston, United States
- Total investments: 32
- Last investment: Oct 2024
- Lead investor: 0%
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/in/davidschang
- X (Twitter): http://twitter.com/changds
- Website: http://davidchang.me
- Facebook: http://www.facebook.com/changds

David Chang is a seed investor at TBD Angels in Boston focused on Artificial Intelligence and Software. David is GM, Expert Network at Hunt Club and a Founding Member at TBD Angels. As an entrepreneur and angel investor, he has held operating roles at 6 startups and invested in 90 companies. He was recently the CEO of Gradifi, which was acquired by E*TRADE. Previously, he was Entrepreneur-in-Residence at Harvard Business School and Director of theBabson Summer Venture Program.David has held product and marketing roles at 6 Boston-based startups that were acquired. He previously led the PayPal Boston office and co-founded the Start Tank innovation space. Earlier in his career, he held roles at TripAdvisor (IAC), m-Qube (Verisign), edocs (Siebel), SnapMyLife (Exclaim Mobility), and Goldman Sachs.As a leader in the entrepreneurship community, he holds several advisor/board memberships and has made 90 angel investments in early-stage startups. Awards include Boston Business Journal's Power 50: Most Influential Bostonians, BostInno’s 50 on Fire: Education Winner / Investment Winner / Tech Finalist, and Finalist for NEVY Angel of the Year.David holds a BS with Distinction in Computer Science from Cornell University and an MBA from Harvard Business School.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $250k–$1.7M |
| Pre-Seed | $4M–$4.5M |
| Series A | $3.2M–$85M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Artificial Intelligence | 9 | 28% |
| Software | 8 | 25% |
| SaaS | 7 | 22% |
| Mobile | 6 | 19% |
| Business Intelligence | 6 | 19% |

90 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 12 | 38% |
| Pre-Seed | 6 | 19% |
| Series A | 4 | 13% |
| Funding Round | 4 | 13% |
| Angel | 3 | 9% |

7 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 23 | 72% |
| Canada | 1 | 3% |
| Hong Kong | 1 | 3% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Hermetica | Hermetica is a crypto-native team with extensive financial technology experience, having worked with big organizations such as Kraken and State Street. Hermetica is dedicated to developing innovative financial products that capitalize on Bitcoin's security and transparency. | $1.7M | Seed | Oct 16, 2024 |  |
| Patented.ai | Building the world's first infringement detector. | $4.5M | Pre-Seed | Jun 27, 2023 |  |
| LLM Shield | Powerful leak protection from LLMs like ChatGPT, Bard, Bing, or Claude. Deploy protection today. | $4M | Pre-Seed | Jun 27, 2023 |  |
| Infringements | Monitor your patents and get instant alerts on potential infringements. | $4M | Pre-Seed | Jun 27, 2023 |  |
| Invalidate | IPR-tested prior art search. The ultimate patent invalidation tool. | $4M | Pre-Seed | Jun 27, 2023 |  |
| Reasoner | Problems solved: - Multi-hop reasoning - Compound system data portability - Sub-second, multi-thousand data point synthesization - Multi-domain, multi-topic, multi-subject simultaneous analysis - Lossless recall - Zero hallucinations - And many, many more...Built. In Production. (Currently the reasoning engine powering Patented.ai to solve thehardest problems in litigation.) |  | Pre-Seed | Jun 27, 2023 |  |
| Notch Therapeutics | Notch develops immune cell therapy developing a next-generation pipeline that is compatible and focuses on initial cancer cells. The company's proprietary T-cell production platform enables precision control of Notch signaling, which is required for T-cell development, by combining sophisticated product design with commercial-compatibleprocesses. The ability to control notch signaling eliminates several critical limiting factors in cell therapy development and provides the ability to design and manufacture a consistent and limitless supply of therapeutic T cells.Notch Therapeutics was established in 2018 and is headquartered in Toronto, Canada. | $85M | Series A | Feb 10, 2021 |  |
| Wishroute | Wishroute helps D2C companies proactively and personally support customers with a human “accountability buddy," driving increased conversion, engagement and retention. We enable companies to add human-supported daily SMS conversations to their platforms, designed to help people build healthy habits around the product they signed up for,increasing motivation and, in turn, preventing drop-off. We leverage AI to turn our human support guides into superhumans, with the ability to handle any scale and deliver a positive ROI. |  | Angel | Dec 31, 2020 |  |
| Digits | Digits is a fintech company building tools for businesses and finance professionals by leveraging its proprietary Living Model technology. The company was founded by Wayne Chang and Jeff Seibert in 2018 and is headquartered in San Francisco, California, United States. | $10.5M | Series A | Nov 06, 2019 |  |
| Lalamove | Originally known as EasyVan, Lalamove was launched to satisfy a specific logistical need - van hire. Started in Hong Kong in December 2013, Lalamove operates in 21 markets across Asia and Latin America connecting over 7 million customers with a pool of over 700,000 driver-partners. The Lalamove way has revolutionized old van hiring call centersto being so streamlined, customers and drivers match with each other within 12 seconds. Local deliveries are fulfilled at a breakneck 55 minutes, door-to-door. Providing reliable and quick deliveries for customers, Lalamove also optimises drivers fleet and route to maximise their earning potential. | $300M | Series D | Feb 20, 2019 |  |

10 of 32 investments shown.

## Co-investors
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund, 7 deals together
- [Boston Seed Capital](https://shizune.co/investors/profile/boston-seed-capital) — VC Fund, 6 deals together
- [Baseline Ventures](https://shizune.co/investors/profile/baseline-ventures) — VC Fund, 5 deals together
- [Cooley](https://shizune.co/investors/profile/cooley-llp) — VC Fund, 5 deals together
- [Operator Collective](https://shizune.co/investors/profile/operator-collective) — VC Fund, 4 deals together
- [Chang Corporation](https://shizune.co/investors/profile/chang-com-0014) — VC Fund, 3 deals together

## About TBD Angels

VC Fund · Boston, United States

TBD Angels is a group of like-minded angel investors who thrive on sharing advice, guidance, and capital with talented entrepreneurs. TBD Angels provide critical advice and connections to jumpstart the companies it invests in.

5 contacts available at TBD Angels.

| Name | Title | Profile |
| --- | --- | --- |
| Erin Kutner McCafferty | Venture Investor | https://shizune.co/investors/profile/erin-kutner-mccafferty |
| Jason Burke | Founding Member | https://shizune.co/investors/profile/jason-burke |
| Adam Towvim | Angel Investor | https://shizune.co/investors/profile/adam-towvim |
| Bennett Collen | Angel Investor | https://shizune.co/investors/profile/bennett-collen |
| damien Balsan | Angel Investor | https://shizune.co/investors/profile/damien-balsan |

## Similar investors

### Similar industry
- [Gaingels](https://shizune.co/investors/profile/gaing) — VC Fund
- [Citi Impact Fund](https://shizune.co/investors/profile/citi-impact-fund) — VC Fund
- [10X Capital](https://shizune.co/investors/profile/10x-capital) — VC Fund

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

### Similar country
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund
- [General Catalyst](https://shizune.co/investors/profile/general-catalyst-partners) — VC Fund

## Featured in investor lists
- [Community Angel Investors in United States](https://shizune.co/investors/community-angel-investors-united-states)
- [Film Angel Investors](https://shizune.co/investors/film-angel-investors)
- [LGBT Investors](https://shizune.co/investors/lgbt-investors)
- [LGBT Angel Investors](https://shizune.co/investors/lgbt-angel-investors)
- [LGBT Investors in United States](https://shizune.co/investors/lgbt-investors-united-states)
- [LGBT Angel Investors in United States](https://shizune.co/investors/lgbt-angel-investors-united-states)

## FAQ

### What does David Chang invest in?

David Chang invests primarily in Artificial Intelligence, Software and SaaS startups, most often at Seed and Pre-Seed stage. Most of the 32 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is David Chang's check size?

David Chang typically joins rounds of $250k–$1.7M at Seed, $4M–$4.5M at Pre-Seed and $3.2M–$85M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds David Chang participates in.

### When did David Chang last invest?

The most recent investment recorded for David Chang closed in Oct 2024. Shizune tracks 32 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

# About Shizune
Shizune.co is an investor database. Core features:
- 48,091 startup investors (angels, VCs, accelerators, and others)
- Email, phone, LinkedIn (for intros), socials, and other contact data
- Updated daily from public funding news
- CSV and Excel export

The User can access the full database FOR FREE after signing up: shizune.co