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Ask HN: Does YC accept already funded applicants?

2 points by bpeters ↗ HN
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!

5 comments

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pg
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.

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