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Small Investors

ithacaVC

It is highly typical for a startup to have small investors on its cap table. Founders often raise money from friends and family and other angels. The treatment of the friends, family and angels (FFA) as the startup matures and raises larger rounds of financing over time is interesting. And sometimes founders want to protect the financial interests of FFAs. Or the economy tanks or stock market tanks moving valuations down at inopportune times for the startup.