[jber]

Agree with you that for it's not for everyone but for most early stage startups, it's a great deal.

For the others, Kima Ventures still exists and we are investing at differents valuations (lower and higher)

[jaredmck]

I think it's best for super early stage ventures. If you're much further along, it's going to be a bad deal and possibly deter any future investment in your company due to the dead money (lack of follow-on).