David Mangum

The role of angel investors in the world of entrepreneurial finance is understood in disparate ways. Angels are viewed alternately as heroic helpers (hence the name "angel"), unqualified naifs ("dumb money"), shrewd capitalists with Paul Bunyan-like capacities ("super angel"), and members of a larger band of like minded individuals (part of angel syndicates). These conflicting depictions reflect the very different roles that angels play in financing...