Angel and venture capitalist investors differ in size of investment and business structure.  However, they both use similar criteria for qualifying a company.

Angel investors typically invest up to one million dollars individually, or eight million dollars as a group.  Obviously, this could be more, but above eight million, you typically end up talking to VCs.  Angels use their own money (or family funds) and do not have a charter of rules to follow.  Angels are only answerable to themselves (and of course, their family).

Venture capitalists invest from about two million dollars to as high as two hundred million dollars, depending on the size of the fund they raise. They manage funds composed of investments from individuals, companies, and other managed funds (i.e. Fireman’s Fund).  The largest fund to date is by Oak Investment at $2.56 billion dollars.  VCs have a charter of rules they must follow, and are answerable to these investors. 

Both angels and VCs have a targeted amount they invest.  Startups should target angels and entry level VCs (or startup VCs) because the size of the investment would be typically under eight million dollars.