Founded 2005 by Paul Graham & partners. Funded 5,000+ startups; combined valuation >$800B. No fees, transparent terms, avoids predatory clauses. Top 4 alumni (Airbnb, DoorDash, Coinbase, Instacart) account for 84% public market value. Recent exits: Reddit IPO $6.4B (2024); Kalshi $11B (2025). Portfolio: 45% achieve Series A (vs 33% baseline), 4-5% become unicorns, 10% exit. Global network of investors, mentors, founders at Demo Day.
Investment Focus
Investment Thesis
AI has become the dominant category across recent YC batches. Pre-seed/seed stage. $500,000 investment: $125k for 7% equity plus $375k uncapped SAFE with MFN. Four batches annually (250-300 startups each). Focus on agentic AI: business ops, customer service, sales/marketing, software development agents. Mentorship, Demo Day access, pro-rata rights in follow-ons. Global founders welcome; US/Canada/Singapore corp required. Predominantly North American (85-90% US-based).
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