Succinctly, I'm solo founder of a promising stealth startup with angel funding [1], but due to personal circumstances I need to take an extended amount of time off (likely a year or more). One option is to give the money back and kill the startup, letting go the one other fulltime team member. I would much prefer to transition the startup to others to take the reins, while I maintain a minimal supervisory role with a little equity [2].
Is there precedent for this? Am I crazy to think this is possible? Any examples?
There are people I'm confident can take the reins -- I've been recruiting them to join in December. How can I suggest this plan to them without showing weakness (in the company and myself)?
[1] The angels really invested in me, not so much the business, so I anticipate they will want their money back.
[2] Honestly don't care about keeping a massive amount of equity. I just want to see the tech deployed and help people.
