Main differences between VCs and Angel Investors

What are the main differences between VCs and angel investors:

– Angels invest their own money, VCs invest other people’s money (LPs)
– Angels can decide instantly, VCs need internal discussions and often weeks of due diligence
– Angels can invest in whatever interests them, VCs must follow their fund’s thesis
– Angels typically write smaller checks ($25k-250k), VCs often need to deploy big checks per deal
– VCs need companies to be huge ($1B+) to return their fund, angels can win with smaller exits
– Angels often invest based on gut feel and relationships, VCs need data and proof points
– VCs have pressure to deploy capital within 3-4 years, angels can invest at their own pace
– Angels are usually happy with 3-5x returns, VCs need 10x+ to make their model work
– Angels have often been founders themselves, VCs might have a big team and you might be assigned to spend time with less experienced team members