Most important aspects of a team that investors look for?

What are the top factors that investors look for in a team? Do they only look at the team as a whole or do they also require the CEO to have certain credentials or background?

Investors don't expect founders of early stage companies to be CEO material - a CEO can be brought on-board later on or one of the founders can be groomed into that role. What investors are looking for is a balance of required skills on a team and any relevant past experiences that could help the team in the current venture. Education would be helpful in certain fields (Education, Life Sciences, etc.) but not a must for all fields. Being a graduate of a top-tier school helps from a networking point of view and it's much easier to get funding for graduates of schools like Stanford and MIT because of the alumni network introductions.