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 classic literature ?
The early mornings were still sufficiently cool to render a fire acceptable in the large room wherein they breakfasted; and, by Mrs Crick's orders, who held that he was too genteel to mess at their table, it was Angel Clare's custom to sit in the yawning chimney-corner during the meal, his cup-and-saucer and plate being placed on a hinged flap at his elbow.
I was therefore obliged, much to my regret, to shake my head in the negative - intending thus to give the Angel to understand that I found it inconvenient, just at that moment, to comply with his very reasonable demand!
"Go to der teuffel, ten!" roared the Angel of the Odd.
Hosmer Angel must have some strong object for his curious conduct, and it was equally clear that the only man who really profited by the incident, as far as we could see, was the stepfather.
I remembered all that Christine had told me of the Angel of Music.
Twitter users began criticizing Angel after the 'The General's Daughter' star commented on Paulo Avelino's post that said, 'Na Bea Alonzo ka na ba bes?
"All the praises and thanks be to Allah the only Originator (or the only Creator) of the heavens and the earth, Who made the angels messengers with wings, two or three or four.
It is a fact that angel investors or the Business Angels (BA) are the main sources of financing for new ventures for their start-up and growth (Mason and Harrison, 2015).
Let us remember that a third of the angels created by God were led by the angel Lucifer to rebel against God.
In addition to traditional products, Angel Oak Home Loans offers non-QM options for borrowers.
To mark the growth plans and the rebrand, VPZ not only projected its logo on to the 177ft wingspan of the Angel of the North, but also beamed images of a vaporizer and its logo on to Baltic art gallery, Newcastle Castle, St James' Park, Newcastle University, the Civic Centre and the Millennium Bridge.
'Angel is the name of their office, not of their nature.