If you can't see how they are so different then...well...you're probably not ready to Invest and that lack of experience would be a turn off for Investors
The answer to "who's raising?" is: Almost everyone with an idea, but doesn't mean they should.
The answer to "who's investing?" is: Very few but everyone wants to feel like they could.
On the Raising Side - Beyond the immediate risk of breaking various Blue Sky Laws, the sheer volume of completely unprepared and unvetted people trying to raise will drown out everything else. Most people should NOT raise money yet because they haven't figured out their core value prop, can't express what problem(s) they're solving, or don't know who their target market is. Most are in love with their particular solution and you can't do anything to budge them from that.
And others should not raise money ever because their business can't provide the type of returns necessary OR they have no clue that raising money builds a ticking time bomb in their business.
On the Investor Side - anyone active has no problem finding deals. That's not the problem. The real problem is finding "good" deals. There are NO foolproof ways to prove "good" but referrals from trusted people provide a filter and working directly with founders and getting to know them is another.
And that's not even considering the "investors" who wrote a check once ten years ago and now consider themselves an angel and will waste founders' time with nothing to show for it.
We do NOT need this noise on HN. That's what Angelist, Microventures, Wefunder, your local angel network, accelerators, and your own network are for. If you don't have a network, start building one.. but it takes years before it will be productive for you.
Background: Two IPOs under my belt, a handful of angel investments (one is dead, a couple neutral, others are providing returns), a flock of professional failures, and a decade of mentoring companies before, during, and after accelerators.