Y Combinator raises $125m

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Y Combinator has raised $125 million to date for its Initialized III, according to a SEC filing. The Mountain View-headquartered firm has set a $100 million target and began fundraising in 2016. The SEC filing did not disclose whether the capital raise constituted a final or interim close.

Its previous fund raised $40 million in 2013.

The fund will target venture capital opportunities in technology, media, and telecommunications sectors in the United States.