# Pre-Seed

*Startups & Venture Capital — Finicade finance glossary*

Pre-seed is the earliest institutional-ish money, funding a team to build a first product and find evidence of demand. Rounds are small, usually raised on a SAFE rather than priced equity, and the assessment is almost entirely about the founders since there's nothing else to assess. It exists because seed rounds grew large enough to leave a gap beneath them.

**Also known as:** pre-seed round, friends and family round

**Related terms:** [Seed Round](https://finicade.com/glossary/seed-round), [Angel Investor](https://finicade.com/glossary/angel-investor), [SAFE](https://finicade.com/glossary/safe), [Minimum Viable Product](https://finicade.com/glossary/minimum-viable-product), [Accelerator](https://finicade.com/glossary/accelerator)

Source: https://finicade.com/glossary/pre-seed