Prasanna

right number two uh we are finding that there are funds now who are coming in and saying hey we'll just pick up secondaries from these founders or from us right and they're not looking at a primary infusion or a small primary infusion and they would love to pick up equity in a sas company that's actually profitable and growing i mean are you seeing sequoia in india excel in india are they are they approaching you and saying hey we'd love to buy up that five percent you own in that five million dollar sas company

No, no, not yet, right?

Because they are more in the traditional model of, hey, show me a billion dollar TAM, show me how you can get to a billion dollar IPO and stuff like that.

But there are so many search firms and so many PEs and mini PEs in the US who are now like, if it's a SaaS company, they're like throwing an email at it.

And all of our founders who cross a certain level, they have like an email a week in their inbox saying, hey, can we talk to you?

Right.

So the Indie VC, we are using the straight Indie VC term sheet, the exact same thing.

So in that, the founders, if they do not raise any further capital, they start buying back with a percentage of their revenue every month or every quarter.

One year.

Yeah.

One year plus.

But it's on a month-on-month basis.

It's not all at once.

Yeah.

We are looking at doing that.

So we do want to give founders more optionality in terms of choosing to do that buyback.

So if we can delay the payments, we can prorate the payments, do stuff like that.

Sure.

But when they're coming to us, they're not coming to us at the level that you are getting them in, which is at a $20,000 MRR out of $50,000 MRR.

they're coming to us at practically no revenue, right?