[greedoshotlast]

Honest question on how profitable Y Combinator really is.

What is Y Combinator's average portfolio return before management fees and carry?

[sama]

We don't have outside investors, so there isn't fee or carry.

Our returns are very good (triple digit IRR) but still mostly unrealized.

[greedoshotlast]

Thanks Sama.

This is something I've always been curious since VCs are an investment structure and measuring performance is critical when selecting the right VC.