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E. What is an Angel Fund?

A formal or informal assemblage of active angel investors who cooperate in some part of the investment process. Key characteristics of an angel fund are: control by member angels (who manage the entity or have control over the entity’s managers), and collaboration by member angels in the investment process. An angel fund is different to an angel co-investment fund, which can have other types of investors (like regional investment funds) and has the prime goal of co-investing with angel rounds. 

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