When is a Private Placement Memorandum (PPM) required for raising angel investor capital?

Karen Rands shares here insight on when you need to use a formal legal document, the private placement memorandum, to raise capital from individual business angel investors as an early stage private company. Part of an ongoing series called the Video Tip of the Day VTOD where Karen answers the common questions she gets from Entrepreneurs seeking early stage venture capital from private investors that come to LAUNCHfn, part of the Kugarand Capital Holdings investment banking community.