OK, so maybe they won’t be helpful. Most VCs aren’t either? What’s the difference?

Great question. It’s true that many VCs over promise how helpful they’ll be with introductions / strategic advice / recruiting, etc. But this is benign. Strategics can have some negative impacts:

1. You’re not their core business — their interest will swing more wildly with the markets

When times are good “strategics” want in. They’ll pay up for it and promise much. When times are bad many cease investment activity all together. OK, I know this is true with VC also, but to a lesser extent. Investing is our core business. We have nothing else to revert to.