Which of the Following Statements Regarding Angel Investors Is Most

Which of the following statements regarding angel investors is most accurate?

A) They are typically arranged as limited partnerships.
B) For many start-ups,the first round of outside private equity financing is often obtained from them.
C) Because their capital investment is often small relative to the amount of capital already in place at the firm,they typically receive a small equity share in the business in return for their funds.
D) These investors are typically not acquaintances or friends of the entrepreneur.
E) They have little influence on the business decisions of the firm.