We (myself & a couple of partners) are in the process of getting our
wireless venture funded. Recently, a very close relative of mine has
agreed to fund Series A, which would get us to building a prototype.
Some questions surrounding this.
 
- What's the typical terms for a series A investor? How much equity
should we agree to give away? What terms (liquidation preferences,
anti-dilution etc) should we agree/not agree to? To help assess the
situation better. We don't have revenue, don't have a customer & don't
have the product ready. This initial funding will help build the
prototype. What we do have is an experienced team ready to build the
product, the roadmap & lots of validation as well as verbal agreements
for trials from customers.
 
- How does this impact our ability to get Series B or any future
funding from a VC? Does having a prototype putting us in a more
commanding position in front of the VCs?
 
- Since the angel investor is close to me, I have to treat the money
like its my own (which I believe should be the approach with any sort
of funding). I might just get stuck at a point between my partners &
the angel investors to reach an agreement on the terms. And honestly,
I would just like a "fair" deal for everyone, the angel investor being
close to me & my partners, being my partners & I will be working with
them. Any advise on how to handle this?
 
Appreciate the response.