Howdy squad. First - long time no post. I was recently reminded of my membership here via someone up-voting a 2012 comment and I was inspired.
I recently received an offer from a VC/PE esque fund (owned by a big PE shop) that promises me an X% "Profits Interest", and references a "your Profit's Interest Unit Award Agreement." This is a new venture for them and I was told they don't have the agreement drafted yet. So here I am evaluating this offer without seeing the document. I am being asked to commit and then receive the details.
- Is this fishy / deceptive? Should I run?
- Do I demand to see the document prior to resigning my current role?
- Will this agreement apply to the other members of the fund and therefore will be written favorably e.g. nothing to worry about?
I love the team and the offer, just confused.