Washington - Despite the recent slowdown in the U.S. economy, angel investors are optimistic about the climate for investments in early-stage companies during 2008, according to a new survey by the Angel Capital Association (ACA).

Angel group leaders surveyed predicted that the quantity and quality of entrepreneurial investment proposals will increase this year, with the number of investments they make growing slightly.

"These predictions may indicate that sophisticated angel groups and perhaps other private investors have different reactions to economic challenges than public markets," said John May, chairman of the ACA.

"We have found that new entrepreneurial opportunities can arise in turbulent times like these."

Currently, there are about 275 angel groups operating in the U.S. and Canada, up 65% since 1999.

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