Angel investors are often rich individuals who provide startups with capital for their start-up costs. The term comes from Broadway, where it was originally used to describe the wealthy individuals who provided money for theatrical productions.
These investors are often retired entrepreneurs or executives themselves, who may be interested in investing for reasons that not directly related to pure monetary return. These often include: wanting to keep their foot in the business world as a hobby, mentoring another generation of entrepreneurs, and making use of their experience, time and contacts on a part time basis.
According to SCORE, angel investors have invested $23 billion to 268,000 individuals in over 67,000 deals!