valuation, term-sheet, terminologySay a VC has invested $3M in last round which had a post-money valuation of $15M, and that investment gave her a 20% stake in the company. And she was given the pro-rata rights for future round(s).
The current round now has a post-money valuation of $30M, in order to pro rata her investment, does it mean that the VC needs to put in another 30*0.2-3 = 3M to maintain her 20% stake after this round?
Is that how it works?
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