Venture capitalists will often expect to sell their shares - via the so-called 'exit route' of selling the company or arranging a flotation (a listing on a market such as the Stock Exchange) - after as little as three years.
Business angels by contrast will probably be thinking longer-term - say five years, in the first instance. If things are going badly they may try and bail out sooner; if things are going well, they will probably be content to hold their investment for somewhat longer.
