Ask HN: Angel Investment Pre-YC?
I might have applied for YC for Summer 2011, and my team may have been approached by another angel investor. Have any of you YC companies accepted investment before YC? It seems like I'd need to incorporate, hire lawyers, etc before YC (assuming I'd be accepted).
Any advice would be appreciated on the best way to proceed, assuming YC participation this summer.
Comments
Quite a few of the companies we've funded have already raised some money. It's not a problem if you raise money on a convertible note that YC's investment doesn't trigger. You'd certainly need to incorporate and get a lawyer. Whether it would be worth the cost and distraction depends on the amount being invested, and the terms.
great to know.. and yes it's terribly distracting. thanks for the heads up!