Take the angel money, or bootstrap?
Work · Board of 3We’re at $22k MRR, profitable, growing 6% a month. Two angels have offered $750k at a $7.5M cap. Do we take it, or keep bootstrapping?
Chief of staff
Your board is seated: The Investor, The CFO, The Devil’s Advocate. They read the brief first, then research, then argue it out.
The InvestorVC Partner
The CFOFinancial Controller
The Devil’s AdvocateContrarian
The board’s call
Take a smaller check: $400k from the angel who knows your market, and only with a written plan for what the money buys.
At 6% a month, $22k MRR doubles in about a year on its own. $750k at a $7.5M cap gives up about 10% for growth you are mostly getting anyway; $400k gives up about 5% and still pays for the two hires you would make first.

The Devil’s Advocate disagreed
“You’re profitable and growing. Every dollar you take is a promise to grow faster than you want to. Say no to both.”
Example · Board of 3 · about 95 credits



