No, again it isn't. If you are looking to raise $1M on a $3M pre and you're talking to two firms seriously with the idea of picking one investor (who would end

No, again it isn't. If you are looking to raise $1M on a $3M pre and you're talking to two firms seriously with the idea of picking one investor (who would end up with 25% in that scenario), you might negotiate some of that point, but its pretty unlikely you will end up taking 1 on 1 ( with the investors each putting in $500K, which would get them to that same 25% ownership threshold as in the original scenario).