Y Combinator pulls back from late-stage startup investing to focus on its core accelerator program, and parts ways with 17 employees

• Y Combinator president Garry Tan announced the accelerator is moving away from late-stage investing.
• The decision shouldn't lead to "a noticable effect" on companies YC has already funded, Tan says. 
• The startup accelerator will also eliminate 17 roles on the late-stage investing team. 

The startup accelerator Y Combinator is pulling back from its late-stage startup investing efforts, its president Garry Tan announced in a blog post.

Known for its early-stage investing focus through its core accelerator program, YC also does late-stage investing.