The next stage after angel investment is usually "Venture Capital" - which is private equity capital investment that is made with intent on profiting on a company's IPO or sale. Venture capital usually consists of shares in the company, and usually is sourced from groups of angel investors or investment firms.
Like angel investment, it is made for companies that are developing, but need more investment in order to be able to make it to that next stage. A step higher than an angel investor, (and usually a company that already has received angel investment), the company will seek a "Venture Capitalist." And like angel investments, these investments also bring expertise in the market sector on board.
Again, venture capital is a high risk loan, and often done on small businesses that have had little history to date. Venture capitalists usually get a portion of the company's ownership also. These types of funds usually require some success with angel investment funding, hence being deemed the next stage of business funding.
As a result, most entrepreneurs will have already had to have made some statement in the market before reaching this stage. If you are a new entrepreneur with an idea that has little market history, an angel investor is your better option. Our site is more catered to these types of investments, however, many larger scale investments do occur on our network, often rivaling the size of venture capital investments.