Not surprising given that the term "Angel" has its roots in the arts, more specifically Broadway.
The use of Angel as an investor term originates with Broadway shows, and the “Broadway Angels” that provided investment capital so “the show could go on.” Anyone who has been in the entertainment industry knows that most shows lose money. But, that didn’t bother Broadway Angels – they invested to promote the art form, rather than merely to make money.
The use of Angel as an investor term originates with Broadway shows, and the “Broadway Angels” that provided investment capital so “the show could go on.” Anyone who has been in the entertainment industry knows that most shows lose money. But, that didn’t bother Broadway Angels – they invested to promote the art form, rather than merely to make money.
Sources:
http://foundercorps.org/node/67
http://www.gsb.stanford.edu/ces/resources/angel_financing.ht...