Angel investments are more prevalent than ever before, according to a panel of investors at the Forward Technology Conference held Wednesday at the Monona Terrace.

Jeff Maters of the Pritzker Group explained that only a few venture capital firms can raise “a lot of money,” and Angel investors are replacing the smaller VCs that can’t compete.

Chris Olsen of Drive Capital agreed, adding a note of caution.

“In reality, you want a large number of people who believe in your idea,” Olsen said. “Right now it’s the opposite. Venture capital is concentrated in a relatively small number of firms.”

However, as the panel concluded, startups looking for seed money now have more opportunities.

“There are more angel investors than ever before,” Bill Pescatello of Lightbank said. “It’s way easier now to raise at an early stage.”