The funds are currently closed

Demo Day Funds

The Demo Day Funds are AngelList funds raised before each Y Combinator ('YC') cycle, dedicated to investing into YC companies from that batch. Each fund is led by an experienced investor that is a YC alumnus or insider.
S23' fund coming soon


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Minimum Investment

About Y Combinator

Twice a year, Y Combinator makes a number of small investments into early-stage startups. These selected startup teams participate in the 3-month program to grow their metrics and refine their pitch. At the end of each cycle, the teams present their companies on Demo Day.

aggregate portfolio value
The top startup accelerator in the world by portfolio value.
companies worth $150M+
Since 2005, Y Combinator has funded more than 2,000 startups.
companies worth $1B+
Y Combinator alumni include Airbnb, Stripe, Dropbox, and Coinbase.

Get Access

Demo Day is closed to the public, but the AngelList Demo Day Funds give you access to Y Combinator companies. The fund leads also begin forming relationships with companies even prior to the unveiling on Demo Day.

Examples of investments are purely for illustrative purposes. There is no guarantee that the S23 Demo Day Funds will achieve the same exposure to or quality of portfolio companies held by any previous Demo Day Funds.
One investment, multiple funds
Each fund is run independently by a YC alum or insider. Your commitment will be equally distributed between all currently raising funds at time of investment. Please note that certain individual funds may no longer be accepting additional investors for regulatory considerations or at the discretion of the fund lead.
Liz Wessel
Former YC Visiting Partner, YC Founder W15
Liz began her involvement with YC with her company, WayUp (YC W15). Liz was Co-Founder and CEO over 8 years, raising $40M+ in venture (from General Catalyst, Index, Box Group and many more). Under Liz's leadership, WayUp exited via merger in 2021 with Yello, a JMI Equity company. About one year after the merger, Liz left and returned to YC as a Visiting Partner, where she advised over 100 companies throughout the S22 and W23 batches. Liz began angel investing in 2016 and has now invested in over 40 companies (almost always at the Seed), including Scale AI, Ramp, and Ro.
Holly Liu Demo Day Fund S22
Christopher Golda
YC Founder, S08
Christopher founded BackType (YC S08), a SaaS analytics company he sold to Twitter in 2011. At Twitter, he helped launch Ads and was responsible for the Ads Center until 2014, which grew revenue to $1.4B. Chris is an active investor in startups like Benchling, Coinbase, Republic, Supabase, and 100+ more. He previously served as a Venture Partner for Entrepreneur First and as an advisor to Menlo Ventures and Y Combinator's Startup School.
Christopher Golda Demo Day Fund S22
Ethan Perlstein
YC Founder, W16
Ethan is a scientist, biotech entrepreneur, and angel investor with a focus on platform technologies in all areas of biology. He founded Perlara (YC W16) in 2014 as the first biotech public benefit company focused on rare diseases. Current investments include AsherBio and Ochre Bio.
Ethan Perlstein Demo Day Fund S22
Ben Bryant
YC Founder, W11
Benjamin Bryant is a former high-frequency trader, classic rock addict, and co-founder of the music marketing platform Earbits Radio (YC W11, acquired 2014, Kiz Studios). Benjamin was the founding marketer of Pebble Smartwatch (YC W11, acquired 2016, Fitbit), where he helped pioneer the Smartwatch industry. He currently heads up the Small Android Phone project, a 40K+ person community out to build the perfect sized Android phone. Benjamin has invested in 115 YC companies since 2017.
Guillaume Luccisano Demo Day Fund S22
JJ Fliegelman
YC Visiting Partner, YC Founder W15
JJ was co-founder and CTO of WayUp (YC W15), the leading DEI recruiting platform used by millions. Before WayUp, he worked as a management consultant at McKinsey & Co., advising insurance, banking, and healthcare clients. JJ got his start in angel investing while at WayUp, leveraging his hands-on programming work as CTO to source and invest in tools that he evaluated or used personally. Some of his investments include early checks into dbt Labs, Ramp, Retool, Hightouch, and others. He maintains a private annotated index of his evaluations of nearly all developer and data tools, fintechs, and insurtechs to come out of YC since 2015. Most recently, JJ was a Visiting Partner at Y Combinator for the S22 and W23 batches.
Collin Wallace Demo Day Fund S22

Past returns

Historically, the Demo Day Funds have produced strong returns.

Note: The prior versions of the AngelList Access Fund mentioned above were advised by AngelList Advisors, LLC, an affiliate of SAX Capital, LLC.  While Parker Thompson, a member of SAX Capital's investment committee, advised past funds at AngelList Advisors, LLC, he was not solely responsible for the investment decisions of those funds and the resulting performance of those funds.  Parker Thompson was one of three investment committee members advising those funds. As a result, investors should be aware that the past performance of those funds are not indicative of future results.
Demo Day Funds Terms
Invest in the current batch - Summer 2022 ('S22').