No. It is not a good idea to reach out to a competitor’s investor, full stop. The outcome will not be an investment worthy of your unique stance and depiction of upside. So do not waste your time.
Remember, a lot of venture capital firms are known to use entrepreneurial pitches as a way to glean a lack of foresight they or their portfolio companies exhibit, and on occasion use the business strategy you lay out to optimize the performance of their portfolio company in the same space.
I have personally been there as an entrepreneur with a top-tier investor on Sand Hill Road, the excessive collusion amongst investors in Silicon Valley yields investor-socialism with all the nasty consequences of socialism. You must verify and question the merit-of-money, vigorously. There are too many imposters out there with money, but no merit to guide an outlier to success.
Tread carefully, and knowing who to avoid (as investors) becomes a life-saver to your business. As to life.
