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Hey Justin, Thanks for the article. I'm a co-founder in San Diego. We're being asked for traction, when we have a team and a pretty good prototype out with b

Hey Justin, Thanks for the article. I'm a co-founder in San Diego. We're being asked for traction, when we have a team and a pretty good prototype out with beta users. My question - it seems like we should be targeting pre-seed money, as the seed guys seem to be acting like VCs for an A round. Is that normal for Silicon Valley, or that specific to San Diego? Thanks in advance.

justin 8y ago
I would need a lot more context to answer this question properly. There's no hard and fast rule for when a "pre-seed" becomes a "seed" or "A". These are just labels. The biggest difference is whether you are raising a round of SAFEs or a priced-round. The legal and business consequences of raising SAFEs are more casual than a priced-round, where investors (regardless of location) take things more seriously. Hope this helps and good luck on your company!