There's your filter.
What's obnoxious about "completed an exit" is that talented people can fail to meet this for reasons that aren't their fault. Possibly the VC wanted to aim for an IPO, they failed because of the downturn, and now they haven't "completed an exit". I know of stories like this.
I wouldn't bat an eye if you said you were looking for people with substantial entrepreneurial experience. I just think the specific criterion of "completed an exit" is obnoxious. It sounds like you think you're too good to talk to people who are talented but haven't had their break yet.
It's about (among other things, I assume):
- Wealth (exit = cash = ability to work for equity for an indeterminate period) - Availability (recent exit = not currently engaged with another project)
The first is the biggie. I'd say 99.9% of people on HN can't say "I will eschew all paying work for up to 2 years and can toss a few hundred grand of my own money in if we need a cash infusion".
Of course, the recent exit thing is a problem, too. Most buyers lock in the founders for 1-2 years, so recent exiteers will have golden handcuffs.