The Angel/VC Lines are Blurring

In the evolution of private-equity investment, the line between angel groups and VCs blurs with what are referred to as "super-angel" groups. These entities behave like VCs in that they take institutional investments and raise funds into the tens of millions of dollars. These super-angels have stepped up investments since the recession began, whereas VCs have slowed down overall. In fact, the amount raised by these super-angel groups (from which they make their investments) is projected to double this year.

These hybrid entities are also referred to as "micro VCs," and an Internet search will turn up several firms that you may want to consider approaching if you meet their investment criteria.