I would not touch this with a 10-foot pole, and would be likely to reject an investment possibility based solely on this being on the cap table. It is marketed

I would not touch this with a 10-foot pole, and would be likely to reject an investment possibility based solely on this being on the cap table. It is marketed as being a way to preserve angel-investor equity in the event of an outsized exit. What it actually does is minimize that equity, in exchange for earlier cash-flow repayments. If the business wants to grow, repaying money at that stage is the worst thing possible. And as far as an investment in a business that will never grow: it seems less-desirable than simply getting dividends, and the complexity on the cap-table will make an acquisition less desirable.