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Focused Fundraising

Not getting much attention from VC firms? Be choosy about who you're trying to attract.

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This story appears in the February 2006 issue of Entrepreneur. Subscribe »

In the high-stakes world of national technology, government contracts rarely go to underfunded startups. So when Phil Libin launched Cambridge, Massachusetts-based CoreStreet in 2001, he knew he needed enough funding to last long term. But his broad search for went nowhere.

Libin, 34, changed his fundraising strategy to include only VC firms with both and extensive security-industry experience. Those criteria shrank the pool of he approached, allowing him to spend more with each one.

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