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November 27, 2012

Deal Alert: Y Combinator VC program sizes down funding to $80k


Mountain View, California-based Y Combinator, one of the world’s most successful start-up accelerators, has announced that as part of its ongoing venture capital program, it will now invest $80,000 per startup instead of the earlier $150,000. The revamped program will partner with four venture capitalists — Yuri Milner, Andreessen Horowitz, General Catalyst, and Maverick Capital — who will each invest $20,000 in the program. Investments will be made as convertible notes with no valuation cap and no discount. Since its inception in 2005, the accelerator has funded over 460 start-ups, including Reddit, Clustrix, Wufoo, Scribd, Disqus, Dropbox, Airbnb and Stripe.