I forgot who wrote about this publicly, but I remember reading that an investor whose money you've lost in the past is far more likely to fund you in the future than one you've never met. I thought that was kind of funny, and having succeeded once and failed twice, I can now say that it's true.
Also, as an entrepreneur when doing diligence on whether to accept an investment, I always lookup some of their failed investments and contact the founder. I want to know how the investor behaved when things were going poorly. It's a much better indicator of whether you want to work with them then the padded references they give you (especially when it's to companies that badly want the investor to follow-on in their next round).
Posted anonymously as losing someone's money is still something I prefer to not be associated with.
Also, as an entrepreneur when doing diligence on whether to accept an investment, I always lookup some of their failed investments and contact the founder. I want to know how the investor behaved when things were going poorly. It's a much better indicator of whether you want to work with them then the padded references they give you (especially when it's to companies that badly want the investor to follow-on in their next round).
Posted anonymously as losing someone's money is still something I prefer to not be associated with.