I’m convinced Silicon Valley VCs have a giant Slack workspace where they sit and gossip all day
Does the 3x pref come with taking $5m off the table and a devaluing of employee options?
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Employee options will be placed into escrow and released only if the entire fund returns 15x to LPs within the investment period. 30x if the fund has a strong recycling clause and has to reinvest it all.
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