No, not at $115k MRR.
Most “traditional” Series A VCs that write $10m+ checks will provide some liquidity for founders in hot deals. And as the deals get bigger, to $50m+, as long as the deal is hot — secondary liquidity is par for the course. It lets the bigger VCs buy more of the company.
Earlier than this though … it’s a terrible idea. If a founder is willing to sell some of his stock at say an $8m valuation … they can’t possibly think the company can become a unicorn. If you did .. you’d never sell a single share at that price. Not only share.
My rule is consider secondary liquidity in any round with a nine-figure valuation. Below that, it’s for suckers … or for founders that aren’t totally, utterly going for it (which is OK, just, not venture-appropriate).
