Y Combinator Raising $1 Billion Venture Capital Fund: Report

One of the world’s most widely recognized startup programs in the world is looking to raise a sizeable venture capital fund, sources say.

According to a report from Axios, Silicon Valley icon Y Combinator is raising up to $1 billion for the organizations second Continuity fund, the first of which targeted later-stage graduates of the accelerator.

What’s different about this new fund—beyond a notable increase in size—is that it will be open to companies that never participated in Y Combinator, marking the first time the program has offered to finance startups outside of its ecosystem.

Founded in 2008, Y Combinator has invested in nearly 1,500 companies, including Airbnb, Twitch, and Reddit.