{"p"=>"Startups require capital to finance their business, grow, and develop. Business angels are key providers of such capital. These private investors provide not only capital but also knowledge and experience in business management. This study identifies the characteristics of startups in which large business angels tend to invest. The aim is to provide a useful guide to help entrepreneurs raise funds. Data were gathered from the main association of business angels in one of the largest European markets. Fuzzy-set qualitative comparative analysis (fsQCA) was used to carry out the analysis in fsQCA 4.1 software. Human talent determines the ability of startups to attract funds from large business angels. It is important to have a CEO who inspires leadership and a group of people capable of working as a team. The size of the target market is also relevant to secure investment by large business angels. Profitability and innovation capacity are other features of startups that attract funds from large business angels. Female leadership and project sustainability are characteristics of startups that receive investment from smaller business angels. The study sheds light on the characteristics of startups that attract investment from large business angels. FsQCA shows several ways to attract such investment. This study uses a novel methodology and contributes to the existing literature on the subject."}