20-30% fully diluted is typical if you are taking money from a VC in a seed or A round. There are always exceptions (i.e. you are a "hot" company). In fact, a lot of VCs care less about valuations and are more focused on their percentage ownership after the financing.<p>Fully diluted means after they carve out an option pool from your pre-money. Venture Hacks has a great post about the Option Pool Shuffle that you should read if you're not familiar with it.