Hybrid Search Fund

Hey SF community, We had a great event at Erasmus last week. I would recommend anyone to buy a ticket for the ETA community next year. I do not have shares. So was wondering. Does anyone have experience in sort of a hybrid approach to search? Like you do not raise your SF capital the full 500K, but instead you are raising once you have a deal. So e.g. a deal in the pocket, you put out an LOI -> LOI gets returned and accepted. Then you raise money for your Due Dilligence, which is kind of self-funded. I am getting push-back from deal brokers which I expected...you do not have the money yet, but at the same time, I am thinking this is much better for the investors. So I want to see if this is something anyone else considered. So DD for a deal is probably $50K - $100K range, seems less capital would be needed upfront.