Failing To Pursue Sophisticated Investors In the funding stage, developers might resort to raising capital from a friends and family investor pool, which is fairly unsophisticated, instead of from the institutional investor pool, which is highly sophisticated. The unsophisticated investor pool is unlikely to be interested in comprehensive investment reports, but institutional investors, such as banks, pension funds, and life insurance companies, require a level of insight and visibility into a project. Development teams can offer transparent, comprehensive reporting of budgets for past projects and share real-time dashboards with project progress that can make their portfolio more desirable to sophisticated funding partners. 18