I found a pretty good site that describes what an Angel Investor is and does. Here are some key points that I was able to find.
• Invest in businesses looking for a higher return than what they would see from more traditional investments
• Entrepreneurs who want to help other entrepreneurs get their business off the ground
• Funding can vary, but usually stays in the range from $150,000 to $1.5 million
• Angel Investors offer more than money, they also offer expertise, experience and contacts
• The total amount invested by angels has been estimated at anywhere from $20 billion to $50 billion
• Angel Investors Expect a lot such as a possible board position, good communication, quarterly reports, weekly updates
