There is a danger of having VCs in an angel round: the so-called signalling risk.

在天使轮引入风投有一个危险：所谓的信号风险。

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In that case the money invested in the angel round just converts into stock at the valuation of the next round, no matter how large.

在那种情况下，投到天使轮里的钱只是转换成下一轮估值的股份，不管估值多高。

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If you don't seem like you have the potential to go public, you won't be able to use VCs to drive up the valuation of an angel round.

如果你看上去不像是有公开上市的潜力的话，你就不能够利用风投来拉高天使轮的估值。

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Market validation of the product is an added bonus going into the angel round.

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