Motley Fool Ventures, investing advice company Motley Fool’s tech-focused venture capital fund, has invested $5 million into 13 venture capital firms addressing diversity and underrepresentation in VC.

The Alexandria, Virginia-based venture firm’s first fund closed at $145 million in January 2019, but Motley Fool Ventures reports that it actually raised $150 million. The $5 million comes from this initial raise.

“When VCs talk about deal flow, they often focus on introductions from personal connections, other venture funds, and founders they formerly backed. When those sources are not diverse, it creates a circular reference that feeds a closed system,” Motley Fool Ventures Managing Partner Ollen Douglass wrote in a blog post. “By investing in, and collaborating with, this outstanding cohort of fund managers, we are intentionally opening our network to fellow VCs and founders who are being overlooked and underestimated.”

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