Stay above 50% as long as possible
Majority ownership means you control board decisions. Indian VCs often push for board seats after Series A — negotiate carefully.
Keep ESOP pool lean early
Investors often demand a 10–15% ESOP pool pre-money, which dilutes founders. Negotiate to create it post-money instead.
Anti-dilution provisions matter
Ask for broad-based weighted average anti-dilution protection. Avoid full ratchet clauses — they heavily punish founders in down rounds.
Raise at the right valuation
Raising too early at a low valuation causes maximum dilution. Get to meaningful traction (₹10L+ MRR) before your Series A.
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