According to a joint statement today, Garry Tan, the founder of Initialized Capital, will take over as president and CEO of Y Combinator in 2023
Geoff Ralston, who assumed the role as president in 2019, will be replaced by Tan in January.
Tan will, however, maintain his position as the fund's founder and partner at Initialized, a $3.2 billion investment, "with no modifications to his existing role" until the changeover occurs the following year.
In an interview with Forbes, outgoing president Ralston says, “I have never stopped thinking of Garry as part of YC,” “It feels like he’s coming home.”
Initialized announced that Jen Wolf and Brett Gibson had been promoted to managing partners in anticipation of the shift.
Launched in March 2005, Y Combinator is an American startup accelerator for technology companies. Over 3,000 firms have started as a result of its use.
“YC is a beacon where you don’t have to know anyone,” Tan says. “People gave me so much, taught me so much, and I need to give back.”