“Most of the VCs I’ve spoken with, heard from and been on panels with are going to be very wary of making investments in some new venture that got crowdfunded and now they have to deal with a [capitalization table] that’s full of hundreds of tiny investors who they now have to manage,” says Sean Carr, a lecturer at the University of Virginia Darden School of Business. As part of his research, Carr collects and analyzes data from equity-based crowdfunding platforms outside the United States.