Why are Angels important?
Angels provide a surprising amount of money to the local startup ecosystem. Angel Capital Association noted in a 2016 report that angel investors provide about $24 billion per year to seed and startup entrepreneurs in the US.
The impact of Angels cannot be overstated. To provide perspective, the Center for Venture Research noted in 2011 that Angels provide first-time capital to over 20,000 companies per year in the US while VCs invest their first capital in less than 1000 new companies per year.
