Silicon Valley startup accelerator Y Combinator is raising up to $1 billion for a new venture capital fund, Axios has learned from multiple sources. No word yet on when it is expected to close. YC is also making changes to its investment organization.
Why it matters: Y Combinator is one of the most influential startup entities in Silicon Valley, having incubated such companies as Airbnb, Dropbox and Stripe. But, at it's core, it's an investor — so it's no surprise to see it evolve and expand its reach.