Ask HN: Does YC accept already funded applicants?

https://news.ycombinator.com/item?id=2246434

by bpeters • 15 years ago

2 5 15 years ago

news.ycombinator.com

YC mentions that they accept already funded startups, but how would the term sheet be built? From what I have seen of their terms it works really well if you have not received funds yet.

I am very interested in applying to YC and building the network that will far outweigh the cash they give, but does it make sense to do now that I have funding?

Any advice would be greatly appreciated!

pg2• 15 years ago

From the YC FAQ (http://ycombinator.com/faq.html):

We've already been working on our startup for a while. Is Y Combinator appropriate for us?

We've funded a lot of startups like that. In fact, we especially like them. We can probably help any startup that hasn't already raised a series A round from VCs.

Don't incorporate, though, if you can avoid it. It's easier to start with our paperwork than to transfer an existing LLC or S-Corp to a C-Corp.

We've already taken some funding. Can we still apply?

Sure. We've funded many startups that have.

bpeters2• 15 years ago

We have a C-Corp and terms with our current investor. Is there anything that would kill our application being already set up?

pg2• 15 years ago

No, that wouldn't harm your application. We often fund people who already have C corps.

jimboyoungblood• 15 years ago

Have you asked your existing investors if they'd be cool with it?

Ask HN: Does YC accept already funded applicants?

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