This seems dangerous. If the entrepreneur takes VC money before having a working product and user base, then they have no leverage to negotiate a good terms sheet. Better I think to take a seed round and angel round first even if one can go straight to VC. The 15-20% equity you give up in the first two rounds will at least buy some powerful allies if done strategically, in addition the leverage of a concept you have had time to validate. [test2]