Hollywood location fails to secure investor (3,7)
I believe the answer is:
los angeles
'hollywood location' is the definition.
'Los Angeles' can be an answer for 'location' (Los Angeles is an example). I am not certain of the 'hollywood' bit.
'fails to secure investor' is the wordplay.
'fails' becomes 'loses' (I've seen this before).
'to secure' is an insertion indicator (inserted letters are secured inside).
'investor' becomes 'angel' (term for a financial backer of new businesses).
'loses' going around 'angel' is 'LOS ANGELES'.
Can you help me to learn more?
(Other definitions for los angeles that I've seen before include "California city" , "centre of population" , "Hollywood city" , "LA, California" , "Big city" .)