Although formal institutions have always had a leading attitude on the Italian financial market for SME's investments, it is a clear and objective fact that informal investors, such as Business Angels are running to overcome this trend. This work aims to describe deeply their peculiarity, their way of conducing business to the launching phase and to let them be better known among future entrepreneurs at their very first entrepreneurial experience with start-up fund raising. The lack of understanding is still too widespread and the government is not assuming radical changing to help the expansion of the phenomena. The author will analyse all these factors, willing to describe ow and where to put efforts to solve them.