Looking for large investors can be a dead end for many syndicators until they have significant syndication experience. A lot of new syndicators spend tons of time seeking “whale” investors only to learn they are notorious for backing out or changing terms before closing so the deal no longer works, leaving the syndicator high and dry.
The syndicators who are successful with bigger investors such as investment banks, private equity and “capital raisers” (the legality of which is often questionable) are usually raising more than $4M-$5M for bigger deals and may still need to raise up to 50% of the funds themselves.
There is no substitute for developing relationships with individual investors. If that’s not your thing, team with someone who is and add them to your management team.