Is it only the valuation cap that could vary for different investors? (Would a conversion discount or even interest-rate-until-conversion ever vary as well?)
How often does the valuation cap actually prove relevant? (I'd thought they were picked to handle outlier successes; a healthy company might still do its first formal round below any caps.)
Does having many different caps make the next equity round any more complicated?
How often does the valuation cap actually prove relevant? (I'd thought they were picked to handle outlier successes; a healthy company might still do its first formal round below any caps.)
Does having many different caps make the next equity round any more complicated?