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From Life With Alacrity: On Being an Angel.:

QUOTE

In the last month or so I've received a number of links to Life With Alacrity as a venture capital blog, and to myself as a venture capitalist.

However, I don't consider myself a venture capitalist. Instead, I am what is known as an "angel investor".

This week has also seen a new topic enter the blog zeitgeist: the topic of reforming or reinventing venture capital. This topic was initially raised by Dave Winer, followed by Robert Scoble, Doc Searls, Michael Arrington, Thatedeguy and many more.

All types of venture investment -- seed, angel, venture, and institutional alike -- carry with it great risks and great rewards. But before we can reinvent venture capital and related venture funding methods like angel capital, we need to understand how it works.

UNQUOTE