Ron Conway’s venture capital firm, SV Angel, is launching a new $40 million fund, VentureBeat reports. The investor has already raised around $11.7 million.

Conway had raised a $20 million fund about a year ago. Conway, once partnered with Russian investor Yuri Milner, to offer funding to every company that goes through incubator, Y Combinator.

Click here for the story from VentureBeat.