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I actually strongly (but respectfully) disagree with the advice about asking the VC for a position at a portfolio company. VCs all know each other. If a startu
by mikekij 13y ago
I actually strongly (but respectfully) disagree with the advice about asking the VC for a position at a portfolio company.
VCs all know each other. If a startup's technical founder goes to a particular VC to let them know they're thinking of bailing, every other VC in the world (effectively) will have access to this information, and that company will never be able to raise funding.
If you're really committed to leaving (which is fine), I would cut ties with the company first, then start asking around. At least that way you don't leave the other founders in a weird limbo state where they effectively can't raise money.
Tell the other founders why you're leaving, and offer to introduce them to other technical people that may be interested in a consulting engagement / employment when they raise money.
I do, however, agree with the part about getting the paperwork in order. If they are successful in raising money after you leave, the other founders and future investors will likely do everything in their power to dilute your equity disproportionately. It would be worth the $500-$750 to talk to a lawyer and make sure all of your ducks are in a row.
- crapshoot101 13y agoThis isn't true. There's plenty of information asymmetry in the VC world.