Pretty sure not. Seed round funding usually uses a convertible note. Assuming the VC round is a priced round, the seed round investors are treated as if they h

Pretty sure not. Seed round funding usually uses a convertible note. Assuming the VC round is a priced round, the seed round investors are treated as if they had put in money during the price round. Thus they would have same class of stock as the VC investors, with the same liquidation preferences.