[techweenie]

There are angel groups in some communities. Getting an angel group investment takes a lot of work and a lot of time, and requires jumping through a lot of hoops. But some ideas get funding.

In your area, there's South Coast Angels and probably some others. 80% are a bunch of old cranky guys that made a lot of money at some point. Most like to meet, have a meal and pick apart people with ideas. But in the crowd, you might find one or two who would privately invest. Those are the ones you want.

Whatever field your invention is in, seek out people prominent in that field, especially those who've sold off equity and are likely to be bored with a 1% return.

As td suggested, networking is the second best tool you have. The first is your ability to project confidence and field questions around your target industry.

I've raised about $12 million in the past 9 years or so from VCs and angels alike. The questions and issues are the same for both, but the angel may not require the same return guarantees, liquidation preferences and insane equity leverage that a VC will demand.

Be aware, pursuing this type of investment is almost like running a second business.