[weisser]

No, because the commonly held belief of many investors is that entrepreneurs need to be savvy to succeed and an example of that would be figuring out how to reach them either, "directly, or through our friends and associates," with the latter usually being the preferred.

I could see how that might be much more difficult for startups based outside of the United States but since they are currently looking to invest domestically this is a pretty good method of filtering.