Intel announced on Tuesday that it has created a $125 million venture capital fund aimed at increasing the number of women- and minority-led technology startups.
At the Consumer Electronics Show in Las Vegas in January, Intel’s CEO Brian Krzanich pledged that the company would commit $300 million to improve diversity in tech. The statement came after the company found itself embroiled in controversy just a few months before, when it pulled an advertising campaign from gaming website Gamasutra after GamerGate supporters were displeased with a “controversial” article.
According to the Associated Press, Intel’s new Diversity Fund will overlap somewhat with the $300 million pledge. Still, Intel said, the capital fund won’t overlap completely, raising the company’s diversity commitment to more than $300 million, although Intel did not say by how much.