Founder says Ohio VC balked at 4% equity in $50M pre-revenue $2M AI seed round
MickeySteamboat · x · 2026-09-23
An AI startup founder recounts being told by an unnamed Cleveland VC that 4% equity wasn't enough for a $2M seed round at a $50M pre-revenue valuation. He argues many Midwest and East Coast VCs will struggle to back 'real AI' rather than derivative plays, and criticizes local capital allocation; a reporter has already reached out.
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