Intel is putting its money where its mouth is when it comes to diversifying the tech industry.
The chipmaker announced on Tuesday a record-setting $125 million venture fund to invest in high-growth companies run by women and underrepresented minorities.
Dubbed the Intel Capital Diversity Fund, the money is part of a larger initiative to encourage diversity at Intel and in the tech industry as a whole.
"Female and minority entrepreneurship in the technology industry does not reflect the diversity of the United States," Intel said in a statement.
"With this new fund, Intel Capital is leading the way in investing in the best talent from a myriad of backgrounds to develop innovations that serve the needs of a diverse public."
In January, Intel CEO Brian Krzanich announced a $300 million diversity initiative, with a a goal to achieve full representation of women and minorities in Intel's U.S. workforce by 2020. As a part of that effort, the company committed money to sponsor science and technology education in K-12 and universities, primarily for girls and minorities.