Angels get to work

Angel investor groups typically sort through presentations from 100 startup companies to find one in which it's willing to invest.

The Reno Angels, formed earlier this year, has a higher batting average. The group has received proposals from 40 companies and thinks four of them have some possibility for the Reno Angels' first investment.

The group plans to invest up to $500,000 into companies with strong management teams and potential markets of $100 million or more.

Dave Archer of Nevada's Center for Entrepreneurship and Technology and a co-founder of the group, said the Reno Angels now includes 10 investors who play an active role, and more investors have expressed interest in coming on board.