Archangel

You are the developer of Solar Slinger Sasquatch, a solar-charged product that chases sleeping Sasquatches in the land of The Unknown. Problem is you need forty-grand more to launch it. Your wealthy Aunt Sue, a well-known podiatrist, offers to give you forty grand in exchange for 4% equity in the company. Sue is an angel investor with wings on her back (well, feet). She loves your enthusiasm, isn't a venture capitalist, wants you to succeed, and is willing to offer access to her deep pockets. However, she's not an archangel investor.

An archangel is someone who has done tons of angel investing to the point of fame. For example, Silicon Valley's Ron Conway would be considered a former archangel. In his heyday, he pegged (no, not that kind of pegging) companies like PayPal and Google...and has gained notoriety for his power and influence. Same concept, grander scheme of things.

And another take: In the middle ages, theologians enumerated a complicated hierarchy of angels, from Seraphim and Cherubim at the bottom all the way to Archangels at the top. And above them was Tiger Woods…you know…until The Event. (See Purgatorio for details.) Modern finance has partially transplanted these concepts to the realm of investing, if only in a metaphorical, somewhat stunted form.

There are no "Seraphim investors" at this point, but there are angel investors (people with money who use that cash to fund startups) and above them, there are archangels. This last category includes angel investors who have successfully made money on their startups, giving them a significant reputation in the investing community.