Giving ideas wings (The Economist)

"For all its obscurity, the market they operate in is huge. Mr Sohl (UNH) estimates there are up to 350,000 business angels in America who invest around $30 billion a year in some 50,000 ventures, an average of $600,000 per investment. In contrast, venture-capital funds in America invest on average $6m in each venture, according to PricewaterhouseCoopers."

"Business angels have a long history. America's National Venture Capital Association believes that over the past 30 years they have put more than twice as much money into new ventures as have venture-capital funds."

"In America, according to one estimate, angels introduce about two-fifths of the new investment opportunities seen by venture-capital firms."