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Ask HN: Does YC accept already funded applicants?

2 points by bpeters 16y ago

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!

pg 16y ago
From the YC FAQ (http://ycombinator.com/faq.html 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.
- bpeters 16y ago
  We have a C-Corp and terms with our current investor. Is there anything that would kill our application being already set up?
  - pg 16y ago
    No, that wouldn't harm your application. We often fund people who already have C corps.
    - bpeters 16y ago
      Okay, perfect! I look forward to applying :)
jimboyoungblood 16y ago
Have you asked your existing investors if they'd be cool with it?