500 Startups surveyed 122 investors to explore COVID-19’s impact on early-stage investment, serving as the third installment in a series started at the onset of the pandemic. This new survey sought to understand how COVID-19 has changed the investment landscape since early 2020, while also inquiring about investment plans in 2021. A significant number of respondents identified as angel investors (49%) followed by venture capital firms (32%), along with a smattering of corporate venture and family offices. The vast majority invest in the seed stage (75%), followed by Series A (58%) and pre-seed stages (56%).