Angel Investor
An individual who invests their own personal capital into early-stage startups, often at the earliest, highest-risk stage.
Angel investors write checks from their personal net worth, typically at the pre-seed or seed stage, often before a company has meaningful traction or even a formal fundraising process. Many angels are former founders or operators who bring industry expertise, hands-on advice, and introductions alongside their capital, distinguishing them from institutional venture funds investing other people's money.
Angel check sizes vary enormously, from a few thousand dollars to well over a million for high-net-worth angels, and many organize into angel groups or syndicates to pool capital and diligence on deals collectively, sometimes formalized through an SPV.
Choose angels for the specific value they add — relevant domain expertise, a strong network in your customer base, credibility with future investors — rather than simply taking any available check, since a crowded cap table of passive angels adds administrative overhead without proportional benefit.
How is an angel investor different from a venture capital fund?
An angel invests their own personal money directly, while a VC fund invests pooled capital from limited partners under a formal fund structure with management fees and carried interest — angels typically also write smaller checks and invest earlier.
Related terms
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