Like most arguments, there are also two sides for the structuring dynamic. There are those who advocate for structure and there are those who say it does not matter. Angels who subscribe to the structure logic agree that they investors should pay “close attention” to how the deal is structures, while those who do not put faith in that approach believe that “the deal will be wildly successful or it will fail,” no matter how it is structured. (Amis & Stevenson, 2001) Essentially, the first group needs to see how it looks on paper and the second group does not. Personally, I tend to lean more toward the thought process of the camp that says structure is irrelevant. We all know that just because something looks good on paper does not mean it is going to pan out. Sometimes, you just have to dive in head first and be confident in your decision. That is the true entrepreneurial spirit.
Amis, D., & Stevenson, H. H. (2001). Winning angels: The seven fundamentals of early-stage investing. London: Financial Times Prentice Hall.