Y Combinator has decided it’s time to stop the Start Fund. The two-year-old fund, which awarded every company that went through the Silicon Valley accelerator $150,000 in financing, has a new name, new LPs and a new way of doing business that awards less money, but more time with investors. Called YC VC, the program now will give $80,000. SV Angel, which helped found the Start Fund, is not participating in YC VC, but Maverick Capital will participate.
Braemar Energy Ventures saw a quick return on its $6.5 million investment in light-emitting-diode company Albeo Technologies, which is being sold to General Electric . “It was a short holding period and a nice gain,” said Dennis Costello, managing partner at the venture firm. Braemar invested in the Boulder, Colo.-based maker of LED fixtures for commercial and industrial customers earlier this year. The investment was one of the first from Braemar’s new $300 million third fund and it is also the first exit from that fund.
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