Deal flow can comprise many different types of proposals: venture funding, private placements, syndications, initial public offerings (IPO), mergers and acquisitions. While large investment banks can handle most of these activities, specialist financiers such as venture capitalists and angel investors will generally focus on deal flow only in their area of expertise.
While deal flow can be generated from a number of sources, the proposals that are likely to garner the most attention are the ones from companies or entrepreneurs where a previous investment has been successful, or where there is a solid existing relationship. On the other hand, unsolicited proposals from untried entities are likely to be given short shrift by most established financiers.
Investment dictionary. Academic. 2012.