Angel

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Angel

An investment-grade bond. Antithesis to fallen angel. In the context of venture capital, the first investor.

Angel

1. Informal for angel investor, which is a high net worth individual who provides financing to a start-up, either in exchange for convertible debt or equity. Among start-ups, they are thought of as a bridge between loans from family and friends and venture capital, though angels are themselves often personally connected to the business. Angels take on a great deal of risk when they invest in these start-ups; they are also subject to dilution at the start-up's IPO. Therefore, they usually require a high rate of return in exchange for their financing.

2. Informal for investment-grade, which describes a bond with a medium or high rating. Angel bonds are rated Baa3 by Moody's or BBB- by S&P or Fitch. Angel bonds are considered sufficiently low-risk that the law allows banks to invest in them. In addition to being low-risk, they provide a low return, greatly reducing the cost on the issuer. All Treasury and most municipal bonds are angel bonds.
References in periodicals archive ?
The detailed and precise knowledge of the angelical order escapes any human possibility: "what angels can do according to their nature even though they do not put it into practice because it has been forbidden to them, and what is it that their natural condition does not allow them to do, it is very difficult to say if not really impossible.
Boylesports 9-4 Angelical Girl, 3 Fortuna, 7-2 Whimsical Lady 5 Uptown Dilemma, 6 Lycon Betty, Ballymore Trick, 7 Windgap View, 8 Fingal Floss
Operation of Angelical Investment' in OECD Countries: As Well As an Analysis on the Prospect of "Angelical Investment' in China".
This finding either nullifies the disability as having sinned belief or students may have viewed W in a more angelical light as is sometimes found in the literature (Olkin, 1999).
Reminding us that, to this day, cognition of the angelical is "a realm that opens up unheard-of interpretive possibilities" (70), Colilli adds that such activity entails "disavowing the ordinariness and the banality of the communicable everyday routine and replacing it with the wonder of what cannot be said or repeated" (71).
He likes introducing new works in twos, and there is often an obvious duality in what he's done, one dance savage, the other soft, or maybe acid and ice cream, cutting edge and elegy, sci-fi and slapstick (this March it was Fiends Angelical and Dandelion Wine, sinister and sunny, but both a bit labored).
At the close of their "many mazy evolutions," Merlin the sorcerer appears and requests that Elizabeth pronounce which of the bands are "to be esteemed the pre-eminent stock, from which the present natives, the happy subjects of that angelical Princess, derived their lineage" (351).