While the valuation question is definitely important, there are a lot of other considerations when it comes to an angel investment. For example, what are the other terms of the deal? Is it for common stock or preferred? Even more importantly, with such a large equity stake by angels, it's important that you and your partner believe that the angels add far more value than just money. Do they have any connections and or experience in what you're doing so that they might add more value to the business. Will they be able to make meaningful introductions to follow-on funders? Are they capable of doing a follow-on round themselves, ideally at a higher valuation? In short, your question is hard to answer in isolation from these other considerations. I hope you find this helpful.