PE to VC - Help me assess this equity offer in the compensation package
I am offered a 4% "equity" vested in 4 years. Since I am getting my info from a mediator, it is not clear if the 4% is at (1) VC level, (2) carry amount (not equity in this case), or (3) portiflio companies level (Although I expect to help establish some PortCo, this could be too much money if true)). Also I am getting a fixed salary that is -40% of my assessed market value (they have a budget for analyst).
It seems that most of my work in the first 2 years is entrepreneurial/accelerator more than fund management; I will have ongoing businesses for me to establish them in local country. Later I expect to work more as a VC where I screen and DD opportunities, and manage a fund.
How can I intrepret the 4%? I also heard phantom shares thrown around (the mediator is not sophisticated). Do you think the 4% is fair for the intrepretation you suggust or the ones above?
Of course I will have clarity before I start to sign papers, but I need to reply with commitments swiftly.
I think you need to simply ask as it isn't clear.
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