Professional philanthropist and entrepreneur. Co-founder of Hoopla.io, Local Ruckus, KULA Causes, Kansas City Startup Foundation. Co-leader of the Kansas City Startup Village. Creator of the #boomsizzle hashtag.
Most investors (especially VC) focus on investing in "local" companies. Of course, "local" can mean different things to different people, but generally it's a company that is close enough for a quick visit.
That being said, angels and angel groups are expanding their investment territory more and more these days seeing as their is gold in places other than the East and West coasts. It can't hurt to reach out to an angel investor outside of your region to at least have a conversation.
Side Note - If you're able to secure a conversation, make sure you bring more to the table than just "want to invest in our company?" Find a nugget of gold that you can provide them. It shows you care about their well being regardless of whether they invest in your company or not. "Give first, get later." Great words to live by. Thx, Brad Feld.
"Angel Investing: The Gust Guide to Making Money and Having Fun Investing in Startups" by David S. Rose is a good place to start. It's written from the perspective of being an investor, but it's very helpful for those wishing to raise funds as well.
http://www.amazon.com/Angel-Investing-Making-Having-Startups/dp/1118858255
As JFK once said, "My fellow Americans, ask not what your country can do for you, ask what you can do for your country." When networking, I encourage you to approach it with a "give first, get later" mindset. You'll find the more that you offer to help others, the more their offers to help you returns in greater abundance.