Y Combinator Continuity

February 2017

About

Y Combinator Continuity is an investment fund dedicated to supporting founders as they scale their companies. Our primary goal is to support YC alumni companies by investing in their subsequent funding rounds.

Like YC’s early stage partners, the entire YC Continuity team has strong operating experience and interest and takes time to advise YC alumni. We work to create opportunities for founders to continue their personal growth and scale their companies successfully.

FAQ

How do we invest?

Continuity invests capital in two ways:

Pro-Rata Investing: We exercise YC’s pro rata investing rights in all follow-on priced financing rounds, beginning with a company’s first priced round. At post-money valuations equal to or below $300M, we exercise our rights in all companies where we have a formal pro rata right. For rounds at valuations above $300M post-money, we perform diligence before choosing to exercise our rights.

Growth Investing: We write bigger checks ($15M-$50M) in growth stage financing rounds. We have both led rounds ourselves and participated as co-investors in rounds led by other investors. We do not have any strict valuation parameters, but look for companies with clear business models and customer traction. We do not participate as lead investors in typical Series A or seed stage financings.

Why did YC raise this fund?

The idea came to us from our founders. Many of our alumni have encouraged us to raise a fund so that YC could remain a financing partner as they grew their companies. YC has now funded over 1,200 companies, and many of these companies are now scaling their organizations, operations, and revenue. We hope to be a founder-friendly partner for maturing companies in the same way we have been a founder-friendly early-stage investor.

Team

Investing Team

Ali Rowghani

Ali Rowghani is the CEO of YC Continuity. Previously, he served as the Chief Operating Officer of Twitter, Inc. from 2012 to 2014, where he was in charge of Twitter’s product, design, business development, developer platform, and media teams. He was hired as Twitter’s first Chief Financial Officer and served in that role from 2010 to 2012. For the 9 years prior to his time at Twitter, Ali served in several roles at Pixar Animation Studios, Inc., including as Chief Financial Officer and as Senior Vice President of Strategic Planning. Ali holds a BA and MBA, both from Stanford University. Ali is on the Board at Checkr, Lob and Restoration Hardware (NYSE: RH), and is a Board observer at LendUp. Read Ali’s recent blog posts.

Anu Hariharan

Anu Hariharan is a Partner with the YC Continuity Fund. Previously, Anu was an investment partner at Andreessen Horowitz, where she worked actively with the management teams of portfolio companies including Airbnb, Instacart, Medium, OfferUp and Udacity. Prior to this, Anu was a Principal at BCG's Private Equity Practice and was a senior software engineer at Qualcomm. Anu holds an MS in Electrical Engineering from Virginia Tech and an MBA from The Wharton School. Anu led investments in Boom, Instacart and Convoy and sits on the board of Convoy. Read Anu's recent blog posts.

Simon Lu

Simon Lu is a Principal with the YC Continuity Fund. Simon was previously a Director at Twitter where he worked on strategic initiatives and M&A in Twitter’s Corporate Strategy and Development team, oversaw Twitter’s Developer Platform Relations and Operations team, and formed strategic partnerships with consumer internet and enterprise companies while on Twitter’s Business Development team. Before Twitter, Simon was a growth equity investor at The Carlyle Group, where he focused on technology investments. Simon holds an MBA from The Wharton School and a BBA from The University of Texas (Management Information Systems and Business Honors).

Brad Lightcap

Brad Lightcap is an Associate at YC Continuity. He has a background in both operations and finance, having worked at Dropbox and J.P. Morgan prior to YC. At Dropbox, Brad was an early member of the Strategic Finance team, which provides data-driven insights and strategic direction for the company. He led projects in business analytics, architected partnerships and sales strategies, and assisted in operations planning and fundraising. Prior to Dropbox, Brad was an analyst with J.P. Morgan's Healthcare Investment Banking group focused on healthcare services. Brad graduated with honors from Duke University, where he received a B.S. in Economics and B.A. in History.

Nic Dardenne

Nic Dardenne is an Associate at YC Continuity. Prior to joining YC Continuity, Nic worked as an Analyst at Morgan Stanley, where he focused on M&A and capital markets transactions for industrial services, consumer retail, and private equity clients. He also actively covered industrial technology and consumer Internet of Things companies. Nic graduated with honors from the University of Southern California with a B.S. in Business Administration.

Matt Bogrand

Matt Bogrand is an Associate with the YC Continuity Fund. Before YC, Matt worked with Dropbox’s Strategic Finance team, where he led several cross-functional projects across corporate finance, corporate strategy, and business development. Prior to Dropbox, Matt was an Analyst with Blackstone’s M&A Advisory group. Matt graduated from the University of Virginia, where he received a B.S. in Commerce with concentrations in Finance & Management.

Operating Team

Erica Carpenter

Erica Carpenter is the Executive Assistant for YC Continuity and also coordinates Continuity events. She brings over 10 years of experience to the role. Prior to joining the Continuity team she worked for Facebook, Secret and Gap.

Gia Scinto

Gia Scinto is Head of Knowledge & Talent Network for YC Continuity. Gia is responsible for connecting YC Founders with the right expert within the YC Community and developing deeper relationships within our YC Expert Network. She also advises YC founders on talent and executive hiring initiatives. Prior to joining YC, Gia was leading Special Talent Projects at Google across all product areas. Prior to that she was an Executive Talent Partner at Andreessen Horowitz where she worked with hundreds of founders strategize on the right way to build their organization and leadership teams.

Jason Kwon

Jason Kwon is YC Continuity’s General Counsel. Before joining YC, Jason was the Assistant General Counsel at Khosla Ventures, where he advised the partnership and assisted portfolio companies with all transactional matters, including financings, exits and commercial deals. Before that, he was an attorney at Goodwin, where he advised start-ups, venture investors and founders in venture financings, M&A deals, strategic transactions, secondary sales, debt financings, governance matters and compensation issues. He holds a BA from Georgetown and a JD from UC Berkeley.

Sharon Pope

Sharon Pope is Head of Programs & Marketing for YC Continuity and was previously a part-time partner at Y Combinator. Sharon is responsible for creating compelling opportunities for YC founders to continue growing and learning, and she also advises YC founders on marketing and PR. Prior to joining YC, Sharon was Chief Marketing Officer at Green Dot Corporation (NYSE: GDOT), where she grew and launched personal bank accounts & debit cards. Prior to that, she ran marketing & PR at Loopt (acquired by Green Dot) and worked closely with a range of tech companies while at San Francisco PR agencies.

Verena Prescher

Verena Prescher is the Controller of YC Continuity. Prior to joining YC, Verena was the Controller at Felicis Ventures. Previously, Verena was a tax manager in PwC’s Asset Management practice, providing tax compliance and consulting services to investment partnerships with a primary focus on the venture capital and real estate industries.

Read Continuity Advice and Essays on the YC Blog.

Contact the YC Continuity Team