We attempt to uncover why investors engage in different forms of resource exchange with early stage companies by suggesting that such engagements parallel their identity orientations. We also propose a model delineating how identity orientations play a vital role in shaping their exchange tendencies and how they may help foresee their actual investment criteria. We summarize our results in an investor typology that sheds light on the diverse meanings and behaviors that they associate with investing, and advance understanding as to why fundamental differences exist in investor's behaviors. By drawing on the identity orientation framework and exchange theory to understand how investors associate distinct meanings to their exchanges, we hope to stimulate avenues for future research regarding their effects on investment dynamics and ultimate outcomes.