Angels in the field

Steve Morris, a onetime Atlanta investment banker who ran a $300 million mergers and acquisitions division at Bank South, believes the term angel investor is something of a misnomer.

Angels, after all, are heavenly beings who give willingly. Angel investors, however, take a piece of the startup business in which they invest.

Morris nonetheless believes Sarasota is ripe for a new system to match investors with entrepreneurs and startup businesses. That's why he recently founded the Sarasota Angel Network. The nonprofit network, in startup phase itself, will charge members a $1,500 entry fee, says Morris. Would-be angels, in return, get exclusive and confidential access to meetings, events and presentations from local startups.