Techstars pulls in $27.8 million in new funding

BOULDER — Techstars has raised a new $27.8 million equity funding round to help the Boulder-based startup accelerator keep chugging along.

Techstars co-founder David Brown said Monday that the new funding isn’t for any new initiatives, but rather a regular infusion of cash that will be used primarily to fund the seed investments the accelerator makes in each participating company.

Techstars programs offer startups $20,000 in seed money, mentorship and an array of business services in exchange for a 6 percent equity stake. A $100,000 convertible note is also available to all participants.

The new funding will cover the seed funding and the…