When you are selecting VCs to target in your first fundraising process their office location(s) should be a key consideration.

VCs that you expect to serve as your key advisors should be located close to your offices. Proximity makes them accessible, enabling you to meet with them for advice more often. Additionally, local VCs are more likely to be able to attend more board meetings in person, because they don't have to spend as much time commuting.

Aside from your core advisors, you should consider targeting VCs with deep networks in key regional industries. For example, if you are starting a new media company in Denver you may want a New York VC on you board who can open doors on Madison Avenue.

In sum, be strategic when targeting VCs. By aligning the geography of your venture investors you will get more value from the relationship.