I'm contemplating starting a search fund in the US. I don't have a US visa (holding a Dutch passport). However, successfully raising and setting up a search fund would give me a (pretty much guaranteed) clear path to getting a visa. Next to this, I've the possibility to apply for an O1 visa already, but processing time is about 6 months.

Question to investors: is not having a visa when raising a search fund a "red flag" by definition? In other words, should I arrange the visa first before thinking of raising a search fund?