Pro Rata Rights
정의
Pro rata rights let an investor maintain their ownership percentage by investing in future rounds, buying enough of each new round to avoid dilution.
투자유치 시 활용 방법
Standard for significant checks; angels and small funds negotiate them via side letters on SAFEs.
자주 묻는 질문
Why do investors fight for pro rata?
Venture returns concentrate in a few winners; pro rata is the right to keep buying the winners as they emerge.
Can pro rata rights hurt founders?
Occasionally they crowd hot later rounds, squeezing allocation for new leads; most of the time honoring them keeps loyal investors loyal.