[fasteo]

>>> When I say "no product" I literally mean it. It only exists on a powerpoint slide without a single line of code implemented.

It seems obvious to me that VC is part of the scam

>>> Should I anonymously inform investors that my startup employer is a scam, and if yes, how should I approach it?

I wouldn't but, if you decide to inform don't report to the VC, but the people/entities above this VC (could be another VC, funds, physical persons, etc).

Just be careful, it seems that you are looking through a very narrow window here.

[Beltiras]

None of this is legal advice (IANAL).

If you live in a country where there are whistleblower protections you should talk with an attorney and see if you can report this to the relevant investigative authority under protection of that statute.

[fasteo]

Great point