Raising Capital: Fund Vs Project Specific?

[Collin Borns]

Hello everyone,

Out of curiosity, when first raising capital is it easier/better to 1.raise a fund or 2.get capital promised if a deal meeting certain criteria matches with a specific capital providers needs?  Are the SEC laws regarding raising capital applicable if raising from accredited investors vs non accredited?  Does it happen often where a capital provider says they will invest, but when a deal comes along they don't put their money where their mouth is? How can you avoid this?

Thanks