Yuri Milner personally invests in all startups Y Combinator
Two years ago, Yuri Milner and his investment company DST broke the traditional model of venture financing in Silicon Valley when they began to offer money to the hottest startups (Facebook, Zynga and Groupon) on the basis of a very high score and on extremely favorable terms. Since then, virtually all of Milner’s investments have paid for themselves many times, and the former physicist is deservedly recognized as the investor of the year by TechCrunch and the businessman of the year by Vedomosti. American venture capital funds had to change financing conditions in order to somehow compete with Russian capital.
Now Milner made another brave act. He announced an investment of $ 150k in each startup of the Y Combinator incubator. Now there are about 40 startups. This time Milner appeared as an individual investor, investing personal money.
To complete the transaction, Milner entered into a partnership agreement with the SV Angel Foundation, with whom a new angel fund, the Start Fund, was formed. The terms of the deal are amazing: $ 150k is allocated as a loan, which is converted only if / when the company raises a certain amount in the next round of venture financing at a given estimate. These are conditions that are impossible to refuse: people are given money almost as a gift.
Yuri Milner is not even familiar with most Y Combinator startups. But such is his belief in the quality of the work of the incubator.
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Entrepreneurs were told about the arrival of the "sponsor" last night - they all were specially gathered at the main office of Y Combinator in Mountain View, and no one had been warned in advance about what the meeting was being organized for. Representatives of the SV Angel Foundation were personally there, and Yuri Milner was present via video link from Europe.
If all 40 startups agree to accept funding (and this is hard to doubt), then the transaction amount will be exactly $ 6 million. And this is just the beginning: Milner and SV Angel promise to add money in the future if the need arises.
Co-founder of Y Combinator, Paul Graham, told TechCrunch in a telephone interview that this is a very smart investment strategy. Investments will pay off in full if at least a couple of startups take off.
Now Milner made another brave act. He announced an investment of $ 150k in each startup of the Y Combinator incubator. Now there are about 40 startups. This time Milner appeared as an individual investor, investing personal money.
To complete the transaction, Milner entered into a partnership agreement with the SV Angel Foundation, with whom a new angel fund, the Start Fund, was formed. The terms of the deal are amazing: $ 150k is allocated as a loan, which is converted only if / when the company raises a certain amount in the next round of venture financing at a given estimate. These are conditions that are impossible to refuse: people are given money almost as a gift.
Yuri Milner is not even familiar with most Y Combinator startups. But such is his belief in the quality of the work of the incubator.
')
Entrepreneurs were told about the arrival of the "sponsor" last night - they all were specially gathered at the main office of Y Combinator in Mountain View, and no one had been warned in advance about what the meeting was being organized for. Representatives of the SV Angel Foundation were personally there, and Yuri Milner was present via video link from Europe.
If all 40 startups agree to accept funding (and this is hard to doubt), then the transaction amount will be exactly $ 6 million. And this is just the beginning: Milner and SV Angel promise to add money in the future if the need arises.
Co-founder of Y Combinator, Paul Graham, told TechCrunch in a telephone interview that this is a very smart investment strategy. Investments will pay off in full if at least a couple of startups take off.
Source: https://habr.com/ru/post/112785/
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