Ideally we’d find investors that invest in our specific industry, but that’s not always possible.

While we do want to target investors that favor our industry, because that’s where their expertise is, we often must broaden our search a bit.

For example:

Our product is in the Beverage Industry. We would look for adjacent industries that show some market expertise like “Direct to Consumer” or “Food” since they share some aspects of the Beverage Industry’s needs.

Understand that the further we go out from our core industry the less likely investors are to understand the industry that we’re in, and by way of that, the less likely they are to invest.

We always start “narrow” (specific to our industry) and then radiate outward by adding more adjacent industries to broaden our search.