| #1 - They do have more companies. They all are in the right direction (Series A-C) but no big successes since it's all early. I'm assuming that the early companies got more attention from them though. > "Do you want to be the CEO? or the CTO?" Yes but not a priority. I want to build a successful company and happy to give up my CEO seat if there's someone better suited. > "In this scenario is the single fund providing all of the $2.85MM? Is there a board? Who does the VC/CEO answer to? Do they see their role as interim (i.e. support you to a point where you could become CEO, or get the company going until it can bring in a salaried CEO)? Or permanent?" At this point they answer to themselves as they are the CEOs + Investors. Post series A, they will answer the new investors. They see their role in interim, but most likely hire an outside CEO, on which I have veto rights (this is in contract that they must get my thumbs up on CEO. But, they can also fire me so not sure if this actually matters) > "I mean, it sounds like they want to build the company around you and offload the crappy bureaucracy of running a company that you admittedly don't have experience with."
That's exactly right. As I said, it's my dream job, and still I can't get over the fact that 10% while doing 99% of the day to day is too low. What do you mean by accelerated vesting? I do have some terms in case of acquisition, but I'd be diluted at series A |
I have never worked for a successful startup to exit, either quitting or being reorganized out of a role before an exit. So take my advice with that huge caveat. But one final bit of advice is before you proceed find an attorney savvy about startup corporate structures and equity to review all of your documentation and contracts.
|Edited to add this link: https://www.investopedia.com/terms/a/acceleratedvesting.asp