"I think one of the biggest unexploited opportunities in startup investing right now is angel-sized investments made quickly. Few investors understand the cost that raising money from them imposes on startups."

Oh lord yes.

Having been through the fundraising process a few times, it's hard to describe the sheer relief when you find an investor willing to give a quick yes or no. The best I can describe it is like the feeling of getting a Christmas present you really, really wanted but didn't think to ask for.

SV Angel and a16z are two of the best I've ever interacted with in this regard. It's clear both firms deeply respect entrepreneurs' time.