Fund Structure
Early Stage
The investment phase covering pre-seed through Series A, when companies are building their initial product and proving out their business model.
Early-stage investing covers the pre-seed, seed, and Series A phases of a startup's development — from idea through initial product-market fit validation. Early-stage investors accept the highest risk (many companies fail to reach Series B) in exchange for the lowest entry valuations and highest potential multiples. Early-stage VCs typically write $250K-$5M checks and take 10-25% ownership. They provide hands-on support: helping recruit key hires, facilitating customer introductions, and advising on product strategy. Famous early-stage-focused firms include Y Combinator, First Round Capital, Precursor Ventures, and SV Angel. Early-stage investing requires conviction in founders rather than business metrics, since most metrics don't exist yet.