If you want to go the institutional venture capital route, you must have a lead investor. The lead investor performs 3 key functions:
1) They do the due diligence, and share it with other investors,
2) They bring in "follow-on" investors
3) They set the terms for the investment round.
A "cluster" investment is just that--no one does the above 3 things, and subsequent rounds of institutional venture capital become nearly impossible to get.
Now, whether or not you SHOULD go the institutional venture capital round is another question. In most cases, I'd say that if you have access to crowd funding and/or family/friend funding, go for it. Just be sure that the money that you raise is the LAST MONEY YOU WILL EVER NEED.