At the beginning of the year, super investors Ron Conway and Yuri Milner created the controversial Start Fund to invest in every new Y Combinator startup. They offered each YC startup to graduate from Paul Graham's rigorous selection process $150,000 in an uncapped convertible note with no discount. Some venture capitalists didn't like the precedent this set. But at least one more big one, Andreessen Horowitz, is jumping on board and joining the Start Fund. Going forward, Andreessen Horowitz will contribute $50,000 of that $150,000 to each YC startup that chooses to take the deal (and so far, most of them have). "It will start with the next cycle," Marc Andreessen tells me. With more than 60 startups per class and growing that comes to $3 million in commitments per class for each of the three investment partners in the Start Fund.Source: http://feedproxy.google.com/~r/Techcrunch/~3/rxm-YDpyOMQ/
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