Silicon Valley startup incubator Y Combinator announced the close of its new post-acceleration fund.
The YC Continuity Fund is a follow-on investment fund that will allow YC to provide capital to portfolio companies years after they graduate from the program.
In a blog post, Sam Altman said that they are going to do pro rata investment for every YC company in every round with a valuation below $300m.
In addition, they will consider leading or participating in later stage growth financing rounds of YC companies, even taking Board seats “where it makes sense for founders“.
The fund will also support some companies with growth-stage capital while not making investments outside of the YC portfolio.
The new vehicle will be led by Ali Rowghani, who moved to a full time partner role. Rowghani, who joined YC in November 2014, previously was the CFO and COO at Twitter, and CFO at Pixar.