Hard to say with the data points you've indicated. Why is it that you want this person as co-founder in the first place. The reasons you indicate are likeable,

Hard to say with the data points you've indicated. Why is it that you want this person as co-founder in the first place. The reasons you indicate are likeable, understands technical stuff, someone you've known for a while. Your concerns are he is real or perceived lack of commitment. Own views about fund raising which are untested etc. I suggest sit down with him and have a "heart to heart" Better have a slightly difficult conversation early on than a much more difficult conversation later on. Impress on him that you have experience in fund raising and from the outside it always looks easy but its only when you go through the gauntlet that you realize what it is. Good luck!