Startup incubator Y Combinator has just
closed $8.25 million new fund led by Sequoia
Capital with Ron Conway, Paul Buchheit,
Aydin Senkut, XG
Ventures, and Geoff Ralston
participating.
The new fund is four times larger than $2 million fund raised last year. This is because it’s meant to be a long term fund and Y Combinator is planning to increase the number of startups the incubator funds. At least 35 (give or take) startups will join the summer 2010 funding cycle. The previous YC funding cycle, winter 2010, had 27 startups, with 20 of the companies hitting profitability or securing commitments for further funding.
To read the full, original article click on this link: Y Combinator Closes New $8.25 Million Fund, Sequoia Is Lead Investor
Author: Leena Rao
