Clement, how about the category of companies building products for markets which are not large…
Prasanna K

Re: the VC-fork, lots of business angels nowadays invest via convertible warrents and loans, that do not have to convert into shares and can easily be paid back with intrest after the loan expires.

We (NEXT Amsterdam) even invest with a convertible revenue share that either converts into shares when the usual qualified financing round occurs, or into a revenue share that is capped at 5X our investment after the maturity date. That way we give our founders the option to still go the VC or the bootstrap way, while at the same time giving us the possibility for a great return.

In the US is doing great work with a similar investment vehicle (they were our inspiration)

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