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Ask HN: What are your experiences with taking a non-strategic investment?
The Skinny: a Hardware venture.
Background: We took a $50k loan to secure patents on our hardware.
Moving Forward: The gentleman who gave us the loan has offered us the $2.5M we need to finish product development and get to commercialization. But he has no background in hardware, engineering, or tech. He is not a strategic partner, but he's got the money and it's something that no one else has offered us.
I know he'll be a great asset at developing the business, generating sales, and even resourcing manufacturing. But during the product development phase I don't see him as a fit.
What are your experiences with taking a non-strategic investment vs turning down the only investment offer on the table?
- mmastrac 12y agoIf you aren't sure, give him a valuation that would make it worth it. Fundraising right now isn't as easy as a lot of articles make it out to be, and having money in the bank will free you from the roadshow of raising.