What kind of product is it? A consulting business isn't really worth what you are proposing -$300k a year with a valuation of > $1m. If I am understanding you

What kind of product is it? A consulting business isn't really worth what you are proposing -$300k a year with a valuation of > $1m. If I am understanding you right, if you invest $100k into the company, they would use that money to just pay back your consulting fees right? Why not have them compensate you outright stock and forgo cash compensation? It seems like a waste of time to put cash into the company and then pull the cash back out. Also if you are concerned with them not raising the funding you could just make your investment contingent on the raise. Basically say to them "assuming that we can get this round done, I'm in for $100k". As an entrepreneur I hate this (makes me think you are betting against the company) but I could be persuaded if you picked up the axe and charged into battle with me. So make sure that if you do this you are busing ass trying to make the round happen.