Managing Director - Mistral Venture Partners, Motorola Ventures, Gabriel Venture Partners, RF Engineer, entrepreneur...
It's certainly not unusual to see debt on the balance sheet when we look at opportunities. I wouldn't let it hold up your process of trying to find additional new investors, as it can usually be worked around to all parties satisfaction. Having said that - a specific answer to your question would depend on a number of things, including the payback terms, cash on the balance sheet, amount you intend to raise, strength of the underlying business etc. VC's will not fund you $500K just to have $300K walk out the door in 6 months for example. Have you considered having your debt holder convert to equity along with the new investors?
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Asked me for background upfront to save us time. Great ideas to help me get focused on a product. If you're looking for a critical (yet friendly) eye for your idea, Code is who you want to call.
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Code is one of the brightest and hardest working people I've had the pleasure to work with. Aside from his impressive ability to understand and evaluate technology, he has a strong strategic and business sense. Finally, his lively attitude and sense of humor are easily missed!
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