> and raise approximately $4–5 million from his network(other VCs)
Is that real green cash in the bank or pie in the sky promises?
Is that real green cash in the bank or pie in the sky promises?
That's the deal, he proposed as a % of money raised, with kickers for the amount and valuation maxing out as 5% of cash and 5% equity if he reaches at least $4 mil on a $20 mil post-money valuation.