Cap table management is something I never understood as a founder. Mismanaging your cap table and overselling too early might kill your later-stage financing prospects.https://twitter.com/HustleFundVC/status/1273125092634120192 …
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This is way less true than it was a few years ago with seed/A blurring and many lifecycle firms buying up ownership early before carrying companies to B/C without need for much additional dilution.
this is also one of the reasons we should be glad what were blue chip seed funds are losing their edge. No one benefits from a 1m seed round for 20% and a partner excited to riff on product. You might win if you make that 4, 35% and a guaranteed A/B/C given metrics
