You have to consider the whole picture. But I would say the later they are and still craving investment capital and not showing profitability then I'd get less likely to jump on.
In the end though it would all depend on the real financials, run rate and reasons capital is still being raised.
I can think of legit reasons to still be raising at say a series D that would not prevent me personally from jumping on board.
But also consider at a series D they are paying market salaries and any piece of pie you might get would likely never amount to much. so that could be a major turn off for a lot of people. But others would prefer it. To each their own.
You have to consider the whole picture. But I would say the later they are and still craving investment capital and not showing profitability then I'd get less likely to jump on.
In the end though it would all depend on the real financials, run rate and reasons capital is still being raised.
I can think of legit reasons to still be raising at say a series D that would not prevent me personally from jumping on board.
But also consider at a series D they are paying market salaries and any piece of pie you might get would likely never amount to much. so that could be a major turn off for a lot of people. But others would prefer it. To each their own.