TechStars has raised a new $24 million fund.
The money comes from all over the place: Foundry Group, IA Ventures, Avalon Ventures, DFJ Mercury, SoftBank Capital, SVB Financial Group, RRE Ventures, Right Side Capital Management, TechStars Alumni, and several individuals.
The funding will be used to supply each new TechStars company with an additional $100,000 as a convertible note immediate upon being accepted to TechStars.
As TechStars is funding approximately 60 companies per year, this additional $100K of funding will extend well into the future.
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