Startup accelerator Techstars is raising USD 150 M for its new fund, SEC filings show. The accelerator is seeking new capital ahead of the end of the deployment period of its third institutionally-backed fund, Techstars Accelerator 2024, later this year. The new fund is expected to be used for accelerator-stage and/or post-accelerator investments.

Startups going through Techstars’ three-month program receive USD 20 K and a USD 100 K convertible note in exchange for 6% to 9% of common stock, in addition to access to its network and mentorship, amongst other resources.

Founded in 2006, Techstars runs more than 50 accelerator groups in major cities across the globe, including New York, Los Angeles, London, Boston, Tel Aviv and Lagos. The accelerator launched the Lagos arm last year in partnership with ARM Labs as part of its plan to expand its specialist and generalist programs globally.