An Angel Fund, or Angel Network, is usually comprised of a group of individual investors who pool their money to make a number of individual investments. This fund will then make a number of individual investments, allowing the individual angels to diversify their risk. If you are seeking funding from an angel fund, there is typically a submission process to follow where you can submit your business plan or overview documents. If selected for the next step, you would present your overall business plan to the members of the fund, which is usually the hardest part for the company seeking funding, where afterwards they will vote to proceed or not. If the fund has voted to proceed, they will often select a small group of members to negotiate the details with the entrepreneur. Angel funds will typically take an equity position in the company and will often require board representation.