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31 F based in Chicago. Does anyone want to talk?
In hand plz
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I feel like it’s kind of weird to have partners at a startup that don’t care about the mission statement but that’s just me
Yep 🚩🚩🚩
Mentor
This person could be an advisor or an investor.
Startups are typically not partnerships.
Why partner with someone that doesnt care about your mission? So they're only there for the money?
Subject Expert
1) check out
Cleantechopen.org
2) Presuming he will be successful raising funds, 20% no salary or some lower equity % and cash salary. 4 year vest or option to buy him out sooner.
(Don’t pay a percent of funds raised unless he is a licensed broker-dealer. )
Be sure you really like him. As a partner it’s likely the seed money he raises will come from his own pocket and a circle of friends. That will work for the first $250-500k. After then things could get harder. If he never raised money before then his lack of passion or involvement in the industry could mean his time with you could be short. Also see below article for fundraising consultants fees
https://www.toptal.com/finance/startup-funding-consultants/fundraising-consultants-broker-dealers
Subject Expert
Also have you looked into getting a grant? There could be govt money available for climate change products
Give him 75%. He is high up in big-4 and therefore worth it.
1
I don’t have any recommendations. However, if you ever need a water resources advisor that is passionate about clean water, DM me!
How are you competing with the big dogs in the GHG accounting space? There is a lot of funding going around to the big companies with hundreds of millions in backing.
I don’t know that I would rule Hume out just because he isn’t into climate change. I for one don’t really care, but there are some components of that movement that I do like. I also have funded some deals in the past that have green components to them. Primary because a lot of green incentives bring efficiency and bring about higher profit and/or productivity.
I’d look at what this person brings to the team. Can they bring skills or experience that fill in gaps that others in the leadership are missing or weak in?
Regardless also, I would have a plan and exit strategy in place and in writing that defined how you would handle a partner wanting out or loss of confidence, if you needed to remove a partner.