Techstars

Overview

Accelerator operator and pre-seed investor founded in Boulder in 2006 that funds every company admitted to its three-month programs. It moved its headquarters to New York in 2024 and closed some city programs. Its accelerator investments are financed through funds raised with outside LPs, including an $80M fund with J.P. Morgan in 2022 for under-represented founders.

Runs Techstars Accelerator, accelerator ($220K for 5%).

Notable portfolio companies

• Uber
• Twilio
• DigitalOcean
• Chainalysis
• ClassPass
• SendGrid
• Remitly
• Zipline

Funds

LPs on the record

4 private foundations list on their latest IRS Form 990-PF, and 4 other LPs report holding Techstars’s funds.

• UTIMCO (Permanent University Fund) Endowment · 2 funds
• The Guardian Life Insurance Company of America Insurer · 2 funds
• The Klarman Family Foundation Private foundation · 2 funds

5 more LPs are in the app. Find LPs that back firms like this one in Hottub’s LP Intelligence: ranked by overlap, with what each holds and how to reach it.

Firms whose LPs overlap

The firms sharing the most LPs on record with Techstars, relative to how many LPs each has. A peer set like this is what Find LPs ranks LPs from.

• TLV Partners 2 LPs in common
• Sante Ventures 2 LPs in common
• Foundry Group 3 LPs in common
• BoxGroup 2 LPs in common
• Grotech Management Company 2 LPs in common
• Upfront Ventures 2 LPs in common

Find LPs for Techstars and these firms: Hottub ranks the LPs that hold their funds, the ones still adding funds first.

Track record

A score of 32 out of 100 from 2 of the 4 funds public LPs report, 0 of them in the top half of their vintage. Its ranked funds’ median TVPI is 1.01x and median DPI 0.00x. Pooled where reports give cash flows: 0.99x TVPI, 0.00x DPI. That ranks it 114th of 123 managers with a score.

Each fund once, as the latest of 3 LPs’ reports ranks it by TVPI against funds of the same vintage in those reports; 50 is the median fund, and a short record is pulled toward 50. The full record in LP Intelligence, with each fund’s rank and what usually follows a fund like its latest, or every manager’s.

Reported fund performance

As reported by public LPs that invested in these funds, net of fees. “Versus vintage” ranks each fund against every other fund of the same vintage in that LP’s report, mostly private equity and venture funds. Open a fund for its cash flows and full peer ranking.

Illinois Growth and Innovation Fund (Illinois State Treasurer): 2024 ILGIF Reporting Information: recipient funds, as of December 31, 2024. The Illinois State Treasurer's Illinois Growth and Innovation Fund commits as a limited partner to venture capital, growth equity and private credit funds. Its yearly reporting document under the Technology Development Act names every recipient fund in two lists, "ILGIF Illinois-Based Funds" (86 names) and "Outside of Illinois" (11 names), but gives no amount per fund, so the commitment and every other amount here is blank, as are vintage year, multiple and IRR. For the portfolio as a whole the document reports, as of 2024-12-31: total commitments $752,350,000, capital called $565,799,533, cash distributions received $169,509,947 and total value of the portfolio $773,590,602. All the funds named are included, private credit funds among them, because the lists do not say which strategy a fund follows; 3 funds the document prints twice are kept once, leaving 94 funds. View source

Texas Municipal Retirement System: TMRS Private Investment Performance Since Inception (Private Equity), as of June 30, 2026. "Percentage Return" since inception as printed by TMRS for funds whose "Performance Methodology" is "IRR" (internal rate of return). TMRS does not label the IRR net or gross and does not say how or by whom it is calculated or when it is not meaningful, so IRRs of very young funds are shown as printed; it states that the information has not been prepared or approved by any manager or general partner and may not reflect their records. TMRS prints no multiple: total value = amount received + remaining value, TVPI = total value / amount invested and DPI = amount received / amount invested are computed from the reported whole-dollar columns. TMRS lists the date(s) of investment (the dates its commitments were completed, matching its Completed Investments Report) rather than a vintage year; the year of the earliest date is used as the vintage. 3 commitments are stated in euros and their committed amount is left blank (the invested, received and remaining amounts are in dollars). 9 commitments have nothing invested yet and so no IRR or multiples. 1 funded holding has no IRR because TMRS prints no return, or a time-weighted return, for it. Private Equity section only (as classified by TMRS; it includes venture, growth, buyout, co-investments and separately managed accounts); the Credit, Global Equity, Real Assets, Tactical Opportunities and Multi Asset Class sections are not imported. View source

UTIMCO (Permanent University Fund): Permanent University Fund Detail Schedules of Investment Securities, Schedule H: Private Investment Funds, as of August 31, 2025. Holdings only: the audited Schedule H lists each private investment fund held by the Permanent University Fund, which UTIMCO manages, with its fair value at the August 31 fiscal year end and nothing else, so vintage year, commitment, contributions, distributions, total value, IRR and multiples are blank (UTIMCO reports none of them here); each fund's fair value is kept as market_value_usd in whole dollars as printed. Fund names are as printed (capitals, abbreviated). Included are the schedule's Private Equity (159 funds), Venture (165) and Emerging Market Equity (29) sections; its Credit, Infrastructure, Natural Resources and Real Estate sections are not imported, and neither are 24 direct investments in the imported sections, which UTIMCO lists only as numbered "Direct Investment" rows because their names are confidential under Texas Government Code 552.143(c). Covers the Permanent University Fund only: UTIMCO publishes no such schedule for the General Endowment Fund, and it provides its fund-level Private Markets performance reports only in answer to an open records request. View source