Re: Venture Capital!
VC's are not involved in debt transactions per se..VC's invest to get the idea to product, then you need to go for what is called growth capital to take the company to the next level. VC's tend to offload the risj at this point to PE or others as the per-money valuation will be higher than when they invested because your idea has been productized.
You are far frm the convertible option...
You shu go an try to market your idea on a soft basis to people inthe industry that you are developing the idea in.
WE have started 4 emerging market funds in the last year one of them VC with a strict mandate around pharma/biotech... find firms that do transactions in your area of expertise. If you need help, just ask. I will point you in the right direction and take some warrants along the way. ;)
Dope is right mostly, exccept for the LLC part. You would need a c-corp. LLC's can't offer shares.