This document discusses angel investors and their role in funding transmedia businesses. It begins by defining an angel investor as an individual who invests their own money and time in early-stage companies in exchange for capital returns. It then outlines different levels of funding for startups, showing where angel investors fit compared to other options like banks, venture capital, and IPOs. The rest of the document discusses angel investors' goals of 10x returns within 3-5 years, their investment process, how to evaluate early-stage opportunities, challenges of transmedia businesses, and reasons for joining an angel investment group.