Fundraising & Investors

What is the real difference between angels, micro VCs, and institutional VCs, and who should I approach first?

A starting point

Start with angels and micro VCs who write small checks fast and take real risk on unproven ideas; institutional seed funds usually want more proof and run a heavier process. Angels give you speed, warm intros, and sometimes hands-on help, but rarely follow-on money. Micro VCs bridge the gap. Do not pitch a large multistage fund at pre-seed and expect a quick yes: you are a rounding error to them until you have traction.

Go deeper

Hand-picked from around the web, each with a note on why it earns your time.

3 resources 3 link-checked

Read

📄 Article
✓ Link checked India Free Beginner

Why we picked it This is the plain map of the Indian investor ladder from the fund that helped build it. Blume defines a micro VC as a sub-$40M fund writing $100K to $500K first cheques, and shows there are now 100+ of them (most born in 2022 to 2023) sitting exactly in the gap between an angel's ₹8 lakh to ₹80 lakh personal cheque and a large seed fund's process. If you want to know who actually writes the first institutional cheque in India and how big it is, this is the source, not a US explainer with dollar figures that do not map to your round.

India's Micro VC Landscape: Who's Writing the First Cheque in 2026?

From Blume Ventures by Blume Ventures 15 min read

  • Indian micro VCs are sub-$40M funds writing $100K to $500K, and they, not big multistage funds, write most first institutional cheques at pre-seed
  • Angels write from personal money (roughly ₹8 lakh to ₹80 lakh) and move fast; micro VCs pool capital and bridge you to a proper seed round
  • The number of Indian micro VCs exploded post-2022, so a first-time founder now has a real institutional first-cheque option that did not exist a decade ago
Open blume.vc →
📄 Article
✓ Link checked Free Intermediate

Why we picked it The most quoted essay on the mechanics of fundraising, distilled from YC Demo Day advice. It reframes fundraising as a sales process with clear rules that still hold up years later.

How to Raise Money

From paulgraham.com by Paul Graham 45 min read

  • Be in fundraising mode or not; don't half-do it while running the company
  • Talk to investors in parallel to create real competition and momentum
  • A 'maybe' is usually a polite no; get to a real yes or move on
Open paulgraham.com →
📄 Article
✓ Link checked India Free Beginner

Why we picked it A tight India-specific comparison with the rupee numbers you actually need: angels write ₹10 lakh to ₹3 crore from their own pocket and decide fast and informally, while pre-seed VCs write above ₹3 crore of LP money and run weeks-to-months of diligence. Read it right after the Blume piece to calibrate exactly how fast each type moves and what the process cost is, so you know why speed-and-conviction angels come first and the heavier institutional cheque comes once you have proof.

Angel Investors vs. Pre-Seed VCs: Who's The Right Fit For You

From Eximius Ventures by Eximius Ventures 10 min read

  • Indian angels write ₹10 lakh to ₹3 crore of personal money and decide quickly; pre-seed VCs write above ₹3 crore of LP money and run heavier diligence
  • A known fund on your cap table is validation that Series A investors trust later, which is what you are buying with the slower process
  • Most real pre-seed rounds mix both: a handful of strategic angel cheques plus one anchoring institutional cheque
Open eximiusvc.com →

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