I think the idea is that the investor is there to support a talented jockey (entrepreneur) against the turbulence of the horse (new business). Maybe this horse got outraced by another horse/jockey, but if the investor should have faith that the jockey can pick up the saddle and learn how to ride a new horse.

Agreed, not the best analogy... especially because as I understand a lot more is invested in horses than jockeys (in actual competitive horse racing). But, I think that's the point.