FORTUNE — Sequoia Capital, the venture capital firm behind such companies as Google GOOG and and Yahoo YHOO , is back in the fund-raising market, with a series of vehicles designed to raise at least $1 billion (in aggregate).

My understanding is that one fund will focus on traditional venture capital, another on growth equity and another on China. It’s also possible that there’s a fourth fund being offered, but I’m not certain about that.

This represents a change in structure for Sequoia, which previously raised more than $1.3 billion for Sequoia Capital 2010 – a vehicle that encompassed all of the aforementioned strategies.

Sounds like someone at Sequoia has been reading the Kauffman Foundation report… Or at least the part about how smaller fund sizes generate higher returns.

A Sequoia spokesman declined comment, due to SEC marketing restrictions. Last week, Sequoia told investors that partner Michael Moritz would step down from day-to-day firm management due to an undisclosed medical condition, but that he would continue making new investments.

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