In general if you sell your company (or pieces of it) you will get something less than the net present value of all its future dividends, as estimated by the bu

In general if you sell your company (or pieces of it) you will get something less than the net present value of all its future dividends, as estimated by the buyer. You or your VC shareholders may choose to do so anyway because it's more comfortable and less risky to cash in earlier. But the party/parties who buy the company will demand a discount as compensation for the inconvenience and risk they're taking on.