Legal analysis: There is little difference between venture capital and angel investment, because angel investment belongs to venture capital. The so-called difference lies in the size of the investment quota. Usually, angel investment is a small investment, and venture capital is a large investment. This difference is actually very vague, because many angel investors also invest in big projects.

Legal basis: Article 87 of the Securities Investment Fund Law of People's Republic of China (PRC) raises qualified investors, and the total number of qualified investors shall not exceed 200. The QFII mentioned in the preceding paragraph refers to the units and individuals that have reached the specified asset scale or income level, have the corresponding risk identification ability and risk-taking ability, and their fund share subscription amount is not less than the specified limit. Specific standards for qualified investors shall be formulated by the the State Council Securities Regulatory Authority.