There are different ways you can approach the investing process, but it is going to be based on your relationships. When you're raising capital outside of just raising the money, my biggest piece of advice is to look for people who are not just going to help you with money, but people that are going to help you with relationships. 

Raise smart money. Besides investing with the aim of making a profit and bringing money to your company, you have to try to bring relationships to the company. That's how you grow. The money is only going to take you so far, the relationships will take you much further. That's just the way of how business is done.

Even for the ones that are losing, for companies that don't achieve what they were hoping to achieve, there's always a way to pivot, because the market is changing and companies can change their business models to still be profitable. In the VC space, whether you make millions of dollars or lose money, there's a middle ground that depends on how much work you put into it and what relationships you have that can help you in case of failure.