No, not it's not usually a problem if a company has merely raised some money, unless they've sold so much of the company that we know it will deter post Demo Day investors.
How much of your company would you have to sell for it to become a deterrent to demo day investors?
I'm guessing 30%+ for an early stage company. (Usually investors out of the valley would take that much in it's first round)
Wow that seems like a lot for angel funding. Even 20% seems like a lot for an angel round.