I've been developing a SaaS project for about 4 months now. About two weeks ago, I invited a friend to join the project to work on building relationships with vc's, drafting documentation, a little marketing, etc.
I've developed the majority of the code/concepts, but have also invested 3-4k in some backend restructuring. My co-founder also wanted to contribute and has invested around 1.5k.
He's been moderately successful at landing interviews with VC's but continues to work hard, be enthusiastic, pose intelligent ideas, etc.
We're planning on meeting with VC's next week and they will likely ask about ownership stakes.
We're not making any money off the project yet so ownership means equity.
What's a fair % of equity for his role?
Thank you in advance!