In this research, firstly, we examine how the microangel clubs’ project selection criteria changes with investor profile. Secondly, we look at the criteria used for accompanying investors. Thirdly, we look at the relationship of the accompanying process both to investor profile and to selection criteria. This accompaniment process increases the success rate of microenterprises and therefore it is an important field of research. If the success of microcredit in alleviating poverty is debated (Roodman and Morduch, 2009) and the success of microenterprise is not evident, perhaps microenterprise needs the handholding role of micro-angels along with the downside risk protection afforded by micro-equity.