Earlier quoted context omitted.
We've funded people older than that. In some types of startups it's the ideal age. E.g. if you want to build a factory or make enterprise software, or do something else that requires lots of capital and/or industry experience.
Some domains carry a crowd that will eat the naive alive. I cannot imagine someone starting a financial tech company being younger than their 30's.
Not knowing about the old boy networks and the "way things are done" can be a benefit to a small and nimble startup. The fact is that economics and the requirement to get things done will occasionally be able to trump "the way we've always done it", and by the time you've signed on two or three clients that way, you can find your way into that network and learn how things are done. And, in the meantime, you've built products that offer better value (because you had to, and your competitors didn't) and a business that is run very lean (because you had to, and your competitors didn't).