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 ?
However, within this circle, we have realized that the above two enhanced ecological and antagonist relationships take place everywhere; both ferocity / depredation and angelically / protection do coexist, but at different mixes and levels, also at different balances and at different life circumstances and life forms and life representations, although any relationship is always concerning the other (Lopez Alonso, 2006).
"`Tis a gift to be gay," he said, beaming, "and, honey, don't you ever forget it." In the photo he looks angelically backlit.
It also links potential angels with others who may be angelically inclined.
"One couldn't really see Gwyneth Paltrow, who made an angelically sparkling entrance through the paparazzi, wearing one of the outfits, even at an awards show."
These are typically solipsistic, romantic dreamers who clearly have no connection with their world or their region whatsoever, and--often simultaneously--self-described topical realists whose angelically conceived political theories become mere cliches which isolate them from the real.
Matty's story, the story of a hideous and unbearably pious simpleton, is reflected symmetrically in the story of the angelically beautiful but cynically evil twins Toni and especially Sophy, the organizers of the attempted abduction.(9) At the age of ten, Sophy discovers what she calls "Of course," which is connected with the "Sophy creature" she discovers in the dark tunnel inside her head.
1218) Not only is Clarissa figured angelically in the dream, but she embodies death-in-life.
--That's a funny name, I said, and the garzone just smiled angelically and shrugged his shoulders.
The medic realized, he told me, that in leaving the collapsing Soviet empire for the Middle East, he had emigrated from one madness to another, "to many others." Israeli Prime Minister Yitzhak Rabin was already dead, killed by a young Orthodox Jew who smiled angelically from his cell in press photos.
As Margherita/Helen of Troy, Nelly Miricioiu, though not ideally cast vocally, sang angelically and was very moving as Margherita.
It also seemed angelically wrong, but beautifully so, that these colors glowed.
The blackbird Angelically sang in the bare apple tree opening his orange bill In the watery air, or chased his heavy ladies on the lawn.