Yes it is normal. However, involvement varies by investor. Typically early investors try to be helpful where they can.
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Why is the Alchemist note founder-friendly compared to having it all in preferred stock. And how can you sell this to an investor as investor-friendly?
In the case of any funds who say "we want to invest, but who we need a lead", is there a way to drive them to close without having a "lead"?
For a cash strapped company, is there guidance on how the founder should price the common, assuming the company is still very early (pre-revenue, 1-3 FTEs, no funding except maybe $60K from Alchemist and others?)
How do you deal with investors in competitors? Are they realistically going to invest?
We received a pre-emptive term sheet for a Series B of a raise of around $25m at around a $90m Pre. The lead VC has asked for Veto Rights to block an acquisition if the company would get less than 2x a return on their investment in that acquisition.