According to this Business Insider article, famed startup accelerator Y Combinator (which boasts graduates like AirBnB, Dropbox, Reddit) has filed documents with the SEC to start a new venture fund.

The Y Combinator Continuity Fund I, allegedly in the billions of dollars, will focus mainly on late-stage, pre-IPO portfolio startups.

Y Combinator has earned a reputation for being one of the best early-stage accelerators in the world, so this does seem like a big change in strategy.

On one hand, this fund seems like a natural progression that will allow YC to double down its investments on its more successful startups, but will it distract them from what they do best, unearthing and betting on early stage winners?

Or is this a larger trend with other accelerators following suit?