Ramachandran, Abhinay2023-05-222023-05-222019-09-272019-10-07https://repository.upenn.edu/handle/20.500.14332/1163For latest version: please go to https://academicentrepreneurship.pubpub.org/pub/jycbwf1e/release/3 Angel investors are wealthy individuals who use their personal assets to invest in startups, typically in early stages before venture capitalists. While angel investors have typically invested more heavily in earlier stage startups, this paradigm has been shifting in recent years. Angel investors are likely to take smaller percentages of equity than a venture capitalist, or use debt-convertible notes, and they may want board representation. It is vital to have investors whose goals are aligned with the company’s. There are six key points investors are listening for in a business pitch: concept, market size/growth, management team, business model, exit scenario, and valuation.http://creativecommons.org/licenses/by-nc-nd/4.0/Entrepreneurial and Small Business OperationsBook Chapter