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Angels sometimes invest in priced rounds. Convertible notes are a newer thing, and not yet 100% universal. The biggest difference, traditionally, is that ange
by patio11 12y ago
Angels sometimes invest in priced rounds. Convertible notes are a newer thing, and not yet 100% universal.
The biggest difference, traditionally, is that angels invest their own money or that of buddies, and that VCs invest the money of LPs. This is a little weirder these days, as there are super-angels/micro-VCs/whatever-their-business-card-says where that starts to become a distinction without a difference.
- tptacek 12y agoSo the answer is, mostly, that I don't know what an angel is. :)
- purringmeow 12y agoYou do, it's just that the term is pretty encompassing :)
- edanm 12y agoThat's the difference that I think about re angel vs. VC. I think that outside of SV, this distinction is more valid, as the hybrid "we're a VC that wants to look/act like an angel" isn't as prevalent. Probably because the trend towards angels isn't as pervasive outside of SV. But I'm not really up-to-date on the inner workings of raising capital, so I could be wrong.