Despite increasing interest in understanding the role passion plays in investor decision making, little is known about the conditions under which displayed passion is likely to play a significant role in this process. This study seeks to explain the individual characteristics of angel investors that influence the importance angels place on the passion displayed by the entrepreneur when angels make investment decisions. We use affective reactivity as our theoretical framework and integrate literature specific to each individual characteristic to explain how each characteristic likely impacts individuals’ affective reactivity and ultimately the importance these individuals place on passion when making investment decisions.