A Round Financing

The initial round of official funding for a venture capital backed start-up company. In practice, most companies "boot strap" themselves for the first few hundred grand or million bucks of funding from angel investors, who often invest with no set valuation other than "at a discount of 30% to whatever the valuation is of the A-round." Normal A-Rounders are actual venture capitalists who invest professionally out of funds run by general partners as funded by limited partners.