Anecdotal, but a Google recruiter once approached me. He told me I have a weird work history. According to him, this was because I had not targeted FAANG after graduation, but instead worked in smaller companies. This was while I was living in Silicon Valley. I guess VCs might see it the same way as the recruiter - only weirdos would say no to dosh.

Personally, I think it is much the opposite -- if you worked in corporations for your whole life, how does that relate to running a startup? I think it's a general consensus that most programmers expect a job description. These people do not usually make great startup founders, because the obscurity of direction and lack of significance for coding early on might startle them.