When a company sells "new" equity to an investor, and assuming the existing investors do not have any "anti-dilution protection," which of the following are generally, logically, always true? (Where 'always' means 99.9% of the time and I can't think of an exception - CM). Mark all that are true. The existing investors, in aggregate will own less of the company than they did before the transaction. The existing investors will necessarily be worse off economically than they were before the transaction. The post-money valuation will be higher than the pre-money valuation