Intel to spend $125M funding startups run by women, minorities

Intel said it will invest $125 million in startups run by women and minorities. The new fund will be run by Intel Capital and some of that amount will overlap with the previously announced $300 million the company has promised to spend on diversifying its workforce, according to Reuters. "We more than doubled the number of diverse candidates we've hired," Intel CEO Brian Krzanich said yesterday at an event at the company's Santa Clara, Calif., headquarters, according to Bloomberg. "You just can't go out and say you'll hire all of the diverse candidates, you've got to build a whole ecosystem."

The fund will be headed by Lisa Lambert, an African-American and a managing director at Intel Capital. She and her team have already spent $16.7 million on an initial four investments, including one company led by a woman, Reuters notes. Article