In the Context of Various Funding Options for Small Businesses

In the context of various funding options for small businesses, which of the following statements is a difference between angel investors and venture capital firms?

A) Angel investors fund only nonprofits, whereas venture capital firms do not fund nonprofits.
B) Angel investors include private organizations, whereas venture capital firms include only government organizations.
C) Angel investors focus on start-ups in their later stages, whereas venture capital firms focus on low-potential start-ups.
D) Angel investors are wealthy individuals, whereas venture capital firms are companies.