General Catalyst Partners, a venture investor behind start-ups like Airbnb, is joining the Start Fund and will now back every Y Combinator company sight unseen, VentureWire has learned.
Launched last year by Yuri Milner and SV Angel and later joined by Andreessen Horowitz, the Start Fund presents every Y Combinator start-up with a $150,000 convertible note upon acceptance to the elite, three-month program held twice a year in Mountain View, Calif.
For the Silicon Valley accelerator that spawned Airbnb, Dropbox and other comet companies that now command valuations of more than $1 billion on the private markets, adding another deep-pocket investor makes sense.
To read the full, original article click on this link: General Catalyst Joins Start Fund To Back Y Combinator Start-Ups - Venture Capital Dispatch - WSJ
