Almost every angel investor is going to want to meet you in-person to make a decision, so it depends on the amount of capital and time you are willing to spend in meeting investors outside of NYC.

I would personally go to any length to meet an investor who has expressed interest in meeting with me who I think would add value in the early stages. Really, that should be your definition of an angel. But if you're traveling, I'd look to qualify that interest as much as possible so as not to waste time and money.

Hope that helps!

Most investors (especially VC) focus on investing in "local" companies. Of course, "local" can mean different things to different people, but generally it's a company that is close enough for a quick visit.

That being said, angels and angel groups are expanding their investment territory more and more these days seeing as their is gold in places other than the East and West coasts. It can't hurt to reach out to an angel investor outside of your region to at least have a conversation.

Side Note - If you're able to secure a conversation, make sure you bring more to the table than just "want to invest in our company?" Find a nugget of gold that you can provide them. It shows you care about their well being regardless of whether they invest in your company or not. "Give first, get later." Great words to live by. Thx, Brad Feld.

Look for people within (or understand) your industry no matter where they. One of our clients is flying to meet potential investors (no matter the distance) if they have expressed fundamental interest and have a good track record.