Angels

After the brief debate we had in class on Tuesday, I decided to see if I could find the origins of the term "angel investor." Unfortunately, all google told me was this:

The term "angel" comes from the practice in the early 1900's of wealthy businessmen investing in Broadway productions. Today "angels" typically offer expertise, experience and contacts in addition to money.

It doesn't quite seem to fit with what Gary and Adam were saying, and I was wondering if anyone else found better information than I did!

Here's a couple of the sites I visited:

Small Business Notes
Investopedia
New Mexico Angels