Many of these people have a past track record which helps hugely, and/or connections with investors. For example, people which have worked in finance often have

Many of these people have a past track record which helps hugely, and/or connections with investors. For example, people which have worked in finance often have many coworkers and other contacts who are high net worth which will be willing to write a cheque on the basis of their personal relationship. I wouldn't underestimate this factor when looking at other investment deals.