Cycle. You might even more appreciate that it is a cycle in a broader sense. A few years ago, I took the evolution of the philosophy of a funnel (in marketing) to a flywheel, to apply as much to raising capital.

Funding is akin to revenue - it has to come from a "customer" who sees value in purchasing (ownership) from a company.

It isn't a funnel of meeting investors, developing a relationship, pitching them, keeping them updates, and delivering value.

It's an ongoing process - a cycle or flywheel:

https://seobrien.com/funding-flywheel