Over the last 10 years, Y Combinator (YC) has become one of the most well-known brand names in incubating and launching top-tier tech talent — Airbnb and Dropbox are both alumni. But it seems that that brand is set to evolve, as YC has just raised a $700 million venture capital fund and is set to be used to up its investments in some of its top-flying companies, as well as give cash-intensive firms the boost they may not get elsewhere.