# Y Combinator ES24, LLC
Y Combinator ES24, LLC is a Delaware-registered venture capital fund vehicle, a pooled investment fund organized under Investment Company Act Section 3(c)(7), based at 335 Pioneer Way, Mountain View, California, and documented primarily through an April 2024 Form D filing with the US Securities and Exchange Commission (SEC).[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) It is not [Y Combinator](https://www.edgepedia.org/y-combinator) itself but one of a set of YC-branded investment vehicles created in a coordinated April 2024 fund restructuring; the filing lists YC Batch24, L.P., at the same Mountain View address, as promoter and managing member of the issuer.[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt)
| Fact | Detail |
| --- | --- |
| Legal name | Y Combinator ES24, LLC (Delaware LLC, CIK 0002018779)[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) |
| Structure | Pooled investment fund, venture capital fund category, exempt under Section 3(c)(7)[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) |
| Managing member | YC Batch24, L.P. (promoter and managing member of issuer)[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) |
| Amount sold | USD 152,698,436, first sale 2024-03-29[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) |
| Signatory | Carolynn Levy, Managing Director (signed 2024-04-09)[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) |
| Offering duration | Indefinite[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) |
| Related filings | Same-day sibling vehicles YC ESP24, L.P. and YCP24, L.P.; YC ECO24, L.P. followed in November 2024[2](https://www.sec.gov/Archives/edgar/data/2018782/000131586324000388/0001315863-24-000388.txt) • [3](https://www.sec.gov/Archives/edgar/data/2018788/000131586324000389/0001315863-24-000389.txt) • [4](https://www.sec.gov/Archives/edgar/data/2043687/000131586324000835/0001315863-24-000835.txt) |
## History and people
The entity's public record begins with its Form D, filed on 9 April 2024. The filing names [Carolynn Levy](https://www.edgepedia.org/carolynn-levy) as Managing Director and signatory.[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) Levy is a partner and General Counsel at Y Combinator and the author of the safe (simple Agreement for Future Equity: investment converting to shares later); in a 2020 SEC comment letter she wrote that since 2005 YC had been an early investor in more than 2,500 companies including Airbnb, Dropbox, Stripe, Instacart, Reddit, and DoorDash.[5](https://www.sec.gov/comments/s7-05-20/s70520-7254270-217568.pdf)
YC's general counsel role changed around the same period. Nicole Cadman, who had spent nearly eight years on Y Combinator's legal team, left in June 2024 and joined the law firm Freshfields as a [Silicon Valley](https://www.edgepedia.org/silicon-valley) partner in September 2024.[6](https://www.reuters.com/legal/transactional/freshfields-taps-y-combinator-general-counsel-latest-us-hire-2024-09-13/) The filing does not name the vehicle's other principals, and no source in the record documents a partner roster for the manager beyond Levy's signatory role and YC Batch24, L.P.'s position as managing member.[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt)
## Funds (by the numbers)
The ES24 Form D reports a total amount sold of USD 152,698,436, with a first sale date of 29 March 2024 and an indefinite offering duration.[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) The filing reports no sales to non-accredited investors, consistent with its Section 3(c)(7) exemption; it also lists 35 related investment companies.[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt)
ES24 was one of three vehicles filed on the same day. On 9 April 2024, YC ESP24, L.P., a Delaware limited partnership at the same 335 Pioneer Way address, filed a Form D reporting USD 421,765,060 sold with the same first-sale date of 29 March 2024.[2](https://www.sec.gov/Archives/edgar/data/2018782/000131586324000388/0001315863-24-000388.txt) [YCP24, L.P.](https://www.edgepedia.org/ycp24-l-p), likewise a Delaware limited partnership at that address, filed a Form D the same day reporting USD 1,102,036,504 sold.[3](https://www.sec.gov/Archives/edgar/data/2018788/000131586324000389/0001315863-24-000389.txt) The three filings share the first-sale date, the address, the Section 3(c)(7) exemption, and the signatory, indicating a coordinated April 2024 restructuring of YC's fund structure rather than three unrelated raises. ES24, ESP24, and YCP24 are separate issuers; the roughly USD 1.7 billion sold across the three filings should not be attributed to ES24 alone.[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) • [2](https://www.sec.gov/Archives/edgar/data/2018782/000131586324000388/0001315863-24-000388.txt) • [3](https://www.sec.gov/Archives/edgar/data/2018788/000131586324000389/0001315863-24-000389.txt)
Vehicle formation continued after April: YC ECO24, L.P., another Delaware limited partnership at 335 Pioneer Way, filed a Form D on 21 November 2024 reporting USD 89,434,057 sold, with a first sale date of 15 November 2024, again as a 3(c)(7) venture capital fund and again signed by Carolynn Levy.[4](https://www.sec.gov/Archives/edgar/data/2043687/000131586324000835/0001315863-24-000835.txt)
## Context: YC's batch model
The vehicle sits inside Y Combinator's batch-based investing program. According to YC's own website, the accelerator invests $500,000 per company, structured as $125,000 for 7% on a post-money safe and a further $375,000 on an uncapped safe with a most-favored-nation clause, and runs four three-month batches per year in winter, spring, summer, and fall.[7](https://www.ycombinator.com/about.html) The vehicle's name echoes that of its managing member, YC Batch24, L.P., though neither the Form D nor YC's public pages state what specific investments the vehicle is designated to make.[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) • [7](https://www.ycombinator.com/about.html)
## Recent developments
The April 2024 cluster of filings marks a restructuring of YC's investment structure into batch-linked vehicles. ES24, ESP24, and YCP24 were all created with a common first-sale date of 29 March 2024, and a further vehicle, YC ECO24, followed in November 2024.[1](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt) • [2](https://www.sec.gov/Archives/edgar/data/2018782/000131586324000388/0001315863-24-000388.txt) • [3](https://www.sec.gov/Archives/edgar/data/2018788/000131586324000389/0001315863-24-000389.txt) • [4](https://www.sec.gov/Archives/edgar/data/2043687/000131586324000835/0001315863-24-000835.txt) The legal team around YC's investment vehicles also turned over in 2024, with general counsel Nicole Cadman departing in June of that year.[6](https://www.reuters.com/legal/transactional/freshfields-taps-y-combinator-general-counsel-latest-us-hire-2024-09-13/) No source in the record reports portfolio companies, exits, valuations, or performance attributable to ES24 specifically.
## References
1. [SEC Form D — Y Combinator ES24, LLC (Accession 0001315863-24-000387)](https://www.sec.gov/Archives/edgar/data/2018779/000131586324000387/0001315863-24-000387.txt)
2. [SEC Form D — YC ESP24, L.P. (Accession 0001315863-24-000388)](https://www.sec.gov/Archives/edgar/data/2018782/000131586324000388/0001315863-24-000388.txt)
3. [SEC Form D — YCP24, L.P. (Accession 0001315863-24-000389)](https://www.sec.gov/Archives/edgar/data/2018788/000131586324000389/0001315863-24-000389.txt)
4. [SEC Form D — YC ECO24, L.P. (Accession 0001315863-24-000835)](https://www.sec.gov/Archives/edgar/data/2043687/000131586324000835/0001315863-24-000835.txt)
5. [SEC comment letter by Y Combinator General Counsel Carolynn Levy on the safe (S7-05-20)](https://www.sec.gov/comments/s7-05-20/s70520-7254270-217568.pdf)
6. [Freshfields taps Y Combinator general counsel in latest US hire (Reuters)](https://www.reuters.com/legal/transactional/freshfields-taps-y-combinator-general-counsel-latest-us-hire-2024-09-13/)
7. [What Happens at YC — Y Combinator](https://www.ycombinator.com/about.html)
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*Topic: Encyclopedia › Society and history › Economics and business › Finance › Venture capital and private equity › Venture capital firms of the Americas › Growth and multi-stage investors › Titles M to Y*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license