You’re right, a VC or angel may be a little more hesitant to invest in a first time entrepreneur over an experienced entrepreneur, all other things being equal. And you can see from the other answers here that there are a lot of different factors that could be considered. Generally, each investor will have their own factors that they think are important, so it really depends on who you are talking to. A first time entrepreneur will have to make up for a lack of entrepreneurial experience, but this can be done in a number of ways.
So, what would it take for a VC to invest in a first time entrepreneur? Well, just like any other pitch, it would take a convincing argument. Apart from the usual contents of a pitch, it would be particularly helpful for a first time entrepreneur to show some success in the early stages of the business. Recent success could help make up for a lack of experience.
Another thing that would help a first time entrepreneur receive VC or angel investment is the strength of the team. If the entrepreneur has little experience, the rest of the team can make up for that by having a lot of experience. A first time entrepreneur should seek the help of experienced team members to make up for his or her own lack of experience.
All in all, being a first time entrepreneur will not kill your chances of receiving VC or angel investment. If you have done the work and can convince a VC or angel that your company is worth investing in, you will be able to overcome a lack of experience.
I hope this answered your question, but if you have more or if you are looking for an attorney to help you in the early stages of your company, you should check out. One thing VCs will get freaked over is if you try and do this all without proper legal representation. The lawyers on our marketplace have guided many entrepreneurs through rounds of funding. Our process is easy and are rates are up to 60% less than law firms. Hope this helps!