Thoughts on bootstrapping and pursuing non-VC funding to build a software startup?

Trying to think creatively re fund raising and recognize there are multiple paths to building a company, and all paths don't lead to VCs. 

Pros and cons?

Plenty of avenues to take in crypto: grants, accelerators/incubators, and angels.

Big pro: Institutional interest (professional backing)
Big con: giving-up large % of equity/tokens; dealing with additional shareholders

building @so many products • prev. @everyname (acq) @nethermind @proximacapital @consensysacad • thomphreys.com

Angels: Entrepreneurial, invest in ideas rather than returns, less focused on diversification

VCs: tend to be investment bankers (rarely entrepreneurial), invest to generate returns, diversification is key.

That said, angels may set up their own foundation for tax/philanthropic reasons.

How do you distinguish angels from VCs as a source of capital? Eg I like the idea of recruiting smart money angels who are bought into the mission and connected to the culture and the space as a means of maintaining independence and pace of growth.