The first priced or SAFE-based capital a startup raises, typically $250K–$1.5M, before product-market fit is proven. Plain-language explainer with examples.
The first priced or SAFE-based capital a startup raises, typically $250K–$1.5M, before product-market fit is proven.
A pre-seed round is the earliest institutional capital a startup raises, usually from angels, pre-seed micro-funds, or accelerators. Rounds typically fall between $250,000 and $1,500,000 and are almost always structured as SAFEs or convertible notes rather than priced equity.
Investors at this stage underwrite the founder and the problem, not traction. What they want to see: a clear customer, an unfair insight, and evidence you can ship. Valuation caps commonly land between $4M and $12M depending on team and category.
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