Hello All

Context: I am raising a traditional fund for a national search, focused on acquiring a SaaS company (though not exclusively). For reference, I am a former 2X VP of Sales for venture-backed SaaS startups and Senior Pastor (long story). Based in Boston, I have just finished my PPM and now actively looking to speak with investors. Would love to speak to investors open to SaaS acquisitions and bullish on the space as I am.

Question: Why do some investors refuse to spell out the industries they do NOT invest? Or alternatively list only where they focus. Spoke with an investor yesterday who had all the typical investment criteria (>$1M EBITDA, recurring revenue etc) but no industry focus listed on their website. Then proceeds to tell me they don't do SaaS searches, just old world businesses.

Are they looking to keep their options open?