Today, at its 17th annual Global Summit in San Diego, Intel Capital announced its Diversity Fundwill expand beyond its initial focus on startups led by women and underrepresented minorities to also include U.S.-based entrepreneurs from the LGBTQ community, entrepreneurs living with disabilities and military veterans. Launched in 2015, the $125 million fund – the largest of its kind by a significant margin – provides selected tech startups with access to Intel Capital’s business development programs, global network, technology expertise and brand capital.
New Diversity Fund leaders Trina Van Pelt and Christine Herron also announced all Intel Capital investors will scout and bring forward startups led by diverse teams and will encourage existing portfolio companies to support diversity. And, in a further demonstration of Intel’s commitment to diversity, Herron noted more than 60 percent of the new startups in the Intel Education Accelerator program are led by women and/or underrepresented minorities.
During a panel discussion moderated by Ubergizmo Co-Founder Eliane Fiolet, the leaders of the Diversity Fund and several Intel Capital portfolio CEOs discussed progress made and obstacles remaining to greater diversity in the tech industry since the fund’s launch.