Code CubittManaging Director at Mistral Venture Partners

Managing Director - Mistral Venture Partners, Motorola Ventures, Gabriel Venture Partners, RF Engineer, entrepreneur...

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It's certainly not unusual to see debt on the balance sheet when we look at opportunities. I wouldn't let it hold up your process of trying to find additional new investors, as it can usually be worked around to all parties satisfaction. Having said that - a specific answer to your question would depend on a number of things, including the payback terms, cash on the balance sheet, amount you intend to raise, strength of the underlying business etc. VC's will not fund you $500K just to have $300K walk out the door in 6 months for example. Have you considered having your debt holder convert to equity along with the new investors?

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