[rlucas]

Don't put it in "investment vehicles" of any sort. Keep it all at the same bank that your angel knows about. He is not paying you to be a fancy treasury management guy. Risk aversion is the name of the game. You also should keep it at that bank to avoid the appearance of funny-biz.

DO put it in a MMA to get some yield, but understand that you'd be doing amazing to get 2% on it, and that should be lost in the noise if you're doing well in the real work.

You might also be able to extract some concessions from your banker for having more assets at the bank.

[OstiaAntica]

MMA's may not be fully insured.

[smackfu]

Or not fully liquid. Look up The Reserve Fund for an example. People got nearly all their money back, but not for a while.