The article states this is a third fund owned by Sequoia and managed by YC. More than likely some of Sequoia's investors got intrigued and wanted to get into t

The article states this is a third fund owned by Sequoia and managed by YC. More than likely some of Sequoia's investors got intrigued and wanted to get into the YC game, but didn't feel like taking their money elsewhere because Sequoia has been good to them. Best of both worlds.