Between 2007 and 2012, 86 percent of new businesses in the United States were started by Latinos. And yet when it comes to finding “start-up” funding, Black and Latinos fall significantly behind. CNN recently found that only 1% of Latino business owners use venture capital funding.

The global venture capital seed fund and startup accelerator 500 Startups is trying to change that. They’re raising $25 million to invest in only black and Latino entrepreneurs. Monique Woodard, the first African-American venture partner for the company, is heading the initiative. You can find more information about the initiative on Monique’s Twitter or read about it in Remezcla here.