I own a bootstrapped start-up that seems to fit their profile, but their numbers seem way off to me.

They take 80% of all distributions until they're paid back 2X, then 20% until they're paid back 5X.

They're offering $100k to 8 start-ups; in order to hire a few employees with decent runway, $500k seems like the minimum useful raise.

I guess we're just too late-stage for this, which is funny, because from my research we're too early stage for most VCs.

The idea of taking 100K today so we can pay 500K tomorrow just isn't very appealing.