Based in Suntec Tower Four, Angels Den Asia has a growing database - the result of word-of-mouth and Mr Morrow's cultivation of high net-worth individuals here. The Web address is www.angelsden. co.uk/Singapore

He attributes the surge of interest to nothing more than a sign of people not wanting to get left behind.

Explaining how angels think, he says that they invest with their 'fun money' - a small percentage of their wealth set aside for 'cars, rugs, cigars, fine wine or equity funding'.

Most of their wealth is already being taken care of by their private bankers, so they do not necessarily require their angel investments to bring in returns.

In fact, the common wisdom in these circles is that angels are more likely to lose money, than to gain money.

Hence, angels invest 'to do a little bit of good for the world, and to help companies start up, and not make the mistakes that they made when they were at that stage'. In short, Mr Morrow says, angels invest to be mentors. 'No angel wants to be seen as just a cheque book, as a bank. That doesn't turn them on in the least little bit.'

To illustrate his point, he paints two scenarios: Entrepreneur A whose company board includes a collection of graduates from Ivy League colleges, and Entrepreneur B who admits to being weak in certain areas of the business, and is seeking help.

'On the surface, you might think that Entrepreneur A would be really attractive. But actually human nature says

'You know what, I'd like to do something, I want to get my hands a little bit dirty again with Entrepreneur B. This sort of reminds me what it's like to be in the field again, so I want to be in there.''

Angels get excited about being able to use their strengths and experience to help an entrepreneur in his areas of weakness. It is all about the personal relationship, Mr Morrow stresses.

This makes it crucial that angels select entrepreneurs they trust and like.

'And through their contacts, relationships and their little black books of friends, they can add so much value to start-up companies and help make their money.'

This is the face of a new wave of investors: younger with a bigger finger on the pulse, and involved - a clear break from the 'old way of doing things' in which investors provide capital, a list of key performance indicators, and check in only at the end of the year.

'We don't go for the traditional angel, the pinstriped bowler-hatter sort of guy reading The Financial Times. It's a much younger, YouTube generation who kind of gets bored after three minutes,' says Mr Morrow, garbed in black trousers and a long-sleeved striped shirt, his right sleeve rolled back to reveal five colourful thread bracelets tied around his wrist.

That angels make their choice based on personality signals to Mr Morrow a 'democratisation of the market', where anyone with passion and a good idea can get funding.

'You don't necessarily have to have a degree, you don't have to wear a tie and cufflinks, you don't have to have the proper accent and gone to the proper schools to attract money.'

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