Typing Angels

Andrew Muse has posted a useful taxonomy of angel investors on myventurepad.com.  Muse's approach could be illustrated pretty effectively with a quadrant graph, with the axes describing investment experience and objectives.

He makes a pretty compelling case that seeking angels exclusively through an angel group is probably not that effective.  He also confirms what we've long preached, which is that you need more than money; you need smart money.

They are people who have previously made lots of money in and around your space.  They have subject matter expertise around your idea and can often provide a lot more than money.  In many cases they will know the ultimate customer that will ensure your success and insure their investment.

The right investor partners can make all the difference.  In addition to subject matter expertise, they can help connect you to talent, strategic partners, distribution channels, and early adopter customers.