Objectively reasonable or not, subjectively a joke in comparison to SV. This kind of investment won't pay for one additional hire this year; if you go smaller i

Objectively reasonable or not, subjectively a joke in comparison to SV. This kind of investment won't pay for one additional hire this year; if you go smaller it won't even pay for the time you spent dealfinding. And after all of that, this level of equity is a curse on your books that locks you out of SV VC. So if you actually grow you're still disadvantaged by such an offer. Lose lose. We can debate whether such an offer is reasonable. But taking this offer in favor of seeking funding in the valley... that's unreasonable.