TechStars announced it has raised a new $24 million fund that will allow it to up the amount of money it provides each startup to $100,000. The new funding is being raised by Foundry Group, IA Ventures, Avalon Ventures, DFJ Mercury, SoftBank Capital, SVB Financial Group, RRE Ventures, Right Side Capital Management and TechStars Alumni.
The new money will be applied to all of TechStars classes in 2012 including Boston, Boulder, New York City and Seattle. TechStars supports about 60 startups a year and previously raised money from 75 venture funds and angel investors. It used to provide up to $18,000 a year for startups who were selected into its program. The program, which launched in 2007, has been on the pioneers in the start-up accelerator space and has spread its model around the world.
To read the full, original article click on this link: TechStars raises $24M, hands out $100k to each start-up — Tech News and Analysis
Author:Ryan Kim
