Venture capitalists are raising lots of money this year not just because they’re worried about money drying up in some sort of market correction. They’re also raising new funds because traditional sources of cash—like university endowments—are flush, according to Bloomberg.
In 2015, University endowments hit $529 billion, up 53% over the preceding five years, the report says. That can mean more money for venture capitalists. As Bloomberg notes in its report, Emory University wraps up 18% of its endowment in both private equity and VC. Furthermore, investing in venture capital can lead to big returns for universities. Yale, which in 2015 invested 16% of its endowment in VC funds, gained 93% on its investments, Fortune reported earlier this year.