“The classic 3Fs — friends, family and fools — is probably the right source of capital for that sort of early stage… 20K can go a long way. You should not be even thinking about institutional capital [early on].”

Friends, Family, Fools: The Right Capital for Early-Stage Apps

Before spending time chasing institutional investors, Greg recommends leaning on personal-network capital for the first tests. A small amount of money — 20K–50K — is enough to run meaningful paid-acquisition experiments and validate distribution before committing to the full VC path.