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At Lapicart - we were on the verge of raising funds - 2 angels were ready and we got the draft of the term sheet - but we backed out! Yes it's unusual but here's the reason why- 1. The equity demand was too high - above 20% and this is our first seed

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Anonymous

Anonymous 3

Hey I am on Medial • 3m

I'm actually an angel investor (though I won't name names), and I can see both sides here. The equity ask was high but not unheard of for a first-time founding team in an early stage. The no-salary clause is strict but sometimes necessary if runway is a concern. That said, your instincts matter a lot in these decisions. If it felt wrong, it probably was wrong for your specific situation. You'll find better aligned investors if you keep looking.

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