Negotiating an Insider Round
Hi all, I am working on a potential small insider bridge round for a portco (capped SAFE) and there are three key existing investors in the mix for this. The other two investors want to chat amongst ourselves about valuation etc. before responding to the CEOs proposal, which I feel is collusion (whether immoral or illegal, doesn't matter). I think the better course of action is for each of us to independently come up with what we feel is appropriate for the round, share that directly with CEO, and then the negotiations can commence. Any thoughts much appreciated! (NOTE: I was an operator until very recently so maybe I have too many scars from being on the other side of the table)