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26 Nov, 2012

Stops funding Y Combinator companies

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Conway stops providing funds to companies in the program as the firm reduces the size of its funding to $80,000 from $150,000. Part of this is due to conflict between startup co-founders. Milner, Andreessen Horowitz, General Catalyst, and Maverick Capital continue to supply funding. Conway will still be involved in the program. Graham says his decision is likely due to SV Angel’s small size relative to the other parties providing funds:

[It] actually didn’t make a lot of sense for [Conway] to be doing it in the first place

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