Source and extent of funding. Angels typically invest their own funds, unlike venture capitalists who manage the pooled money of others in a professionally-managed fund

Angel capital fills the gap in start-up financing between "friends and family", who provide seed funding, and formal venture capital. Although it is usually difficult to raise more than a few hundred thousand dollars from friends and family, most traditional venture capital funds are usually not able to make or evaluate small investments under US$1–2 million.

Investment profile. Angel investments bear extremely high risks and are usually subject to dilution from future investment rounds. As such, they require a very high return on investment. an acquisition. Current 'best practices' suggest that angels might do better setting their stage ventures.

Ex.1 Match pairs of contrasting management styles

1. autocratic a) collaborative

2. centralized b) controlling

3.directive c) delegating

4. empowering d) democratic

5. hands on e) people-oriented

6. task-oriented f) laisser-faire

Ex. 2. Complete the sentences with an appropriate fixed pair of words.

1. I've been writing this report... (occasionally) for the last two weeks, but it has to be submitted tomorrow.

2. There isn't any (strict, fixed) rule about how we are going to proceed in this negotiation.

3. You won't win this negotiation through bullying, there needs to be some (compromise).

4. It was... (unsure that something will happen) whether we'd get to the meeting on time.

5. If this contract is important, we'll have to... (entertain) their management team.

6. Full employment was... (in general) achieved.

7.The union discussed the... (advantages and disadvantages) of strike action.

8.As the country's economy fortunes (hikes and collapses), graduates have more or less difficulty in finding jobs.

9. In the past, the UK housing market was subject to regular (rise and fall) cycles, with periods of rapidly rising prices followed by sudden falls.

10. In the course, the trainer covers both advances theoretical issues and some... (easy to understand) questions.

11. We discussed the... (practical details) of doing it in-house or using outside supplier.

12. The Bowmans have their... (mixture of good and bad experiences) like all married couples.

(booms and busts, by and large, nuts and bolts, give and take, hard and fast, wax and wane, loud and clear, on and off, pros and cons, touch and go, ups and downs, wine and dine)

Ex.3. Complete the statements with suitable marketing expressions from the box.

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