This doesn't hurt the big funds so much as it does the small ones. If I were an eCommerce or Logistics company, for example, there are a subset of niche funds which would be great strategic investors; but knowing they're only going to invest in one or two ventures would leave me disinclined to prioritize them when high-frequency investors are in the mix.

I don't want to kvetch here, it's a much better system than the current free-for-all. But since investors already get the first-mover advantage, it would be nice if entrepreneurs had more complete information.

To carry the theme of relationship analogues in this thread: knowing who's interested in me is great, but I'd rather be someone's dream girl than a fallback or fling.