Startup investors in the US
The accelerators and funds that take applications from founders across the US, the difference between investor types, and guides to the investors in 25 US metro areas.
All amounts are in US dollars.
Who invests in startups across the US?
Most US angel groups invest close to home, but several accelerators and funds take applications from founders anywhere. Y Combinator and Techstars publish standard investment terms. Some city-based investors also say they invest nationally, including New York Angels, Primary, Underscore VC and Blu Ventures. State programs, such as InvestTN, TEDCO in Maryland and NC IDEA, fund only companies in their state.
Which accelerators take applications from anywhere in the US?
| Program | Published terms | Where | How to apply |
|---|---|---|---|
| Y Combinator | $500,000: $125,000 on a post-money SAFE for 7%, plus $375,000 on an uncapped MFN SAFE | Invests in US, Canadian, Cayman and Singapore corporations | ycombinator.com/apply |
| Techstars | $220,000 at acceptance: $200,000 on an uncapped MFN SAFE and $20,000 on a convertible equity agreement that converts to 5% common stock | City programs including New York, Boston, Chicago, Boulder, Columbus and AI Health Baltimore | Each program's page on techstars.com |
| PearX | $500,000 to $2 million, targeting about 7% | Teams relocate to the Bay Area for 12 weeks | Applications year-round |
Which city-based investors say they invest nationally?
| Investor | Based in | What it says about geography | City guide |
|---|---|---|---|
| New York Angels | New York | Invests across the US and in Canada, the UK and Israel | New York |
| Primary | New York | Invests "everywhere" | New York |
| Underscore VC | Boston | Geography-agnostic; about half its investments are in Boston | Boston |
| Blu Ventures | DC metro area | Invests in cybersecurity founders across the US | Washington DC |
| District Angels | DC region | Backs companies wherever they're based | Washington DC |
| Alliance of Angels | Seattle | Looks across the US and Canada, preferring the Pacific Northwest | Seattle |
Meeting an investor's criteria means you can apply, not that it will invest.
Investor guides by city
West
Texas
Midwest
Northeast and Mid-Atlantic
Southeast
For Canadian cities, see startup investors in Canada.
Before you approach anyone
- Check whether the investor requires a C-corporation. Several, including Alliance of Angels and Ohio TechAngels, do.
- Check location rules. State programs fund only in-state companies, and some ask you to stay for a set period.
- Read the terms of any accelerator deal before you apply, so you know how much of the company it takes.
For how to run the raise itself, see how to raise a seed round.
Frequently asked questions
Which accelerators take US founders from anywhere?
Y Combinator and Techstars both publish standard terms. Techstars runs programs in several cities. PearX takes applications year-round but requires teams to relocate to the Bay Area for its 12 weeks.
Do US angel groups invest outside their city?
Some do. New York Angels invests across the US, and Alliance of Angels looks across the US and Canada. Others, such as Launchpad Venture Group in New England, invest only in their region.
Do state programs invest in out-of-state companies?
Generally no. InvestTN requires a Tennessee location, TEDCO requires a Maryland qualified business, and NC IDEA requires North Carolina headquarters.
How much does Techstars invest?
$220,000 at acceptance: $200,000 on an uncapped MFN SAFE and $20,000 on a convertible equity agreement that converts to 5% common stock.