BBG Ventures has raised a new $60 million fund to support founders from “diverse backgrounds,” including gender, race, age and class. Business Insider reported.

The company is known for exclusively backing female founders, and this new fund is a slight departure from that focus, but comes as funding for diverse founders continues to decline. Crunchbase found that Black founders, for example, received just 0.3% of all capital raised in the first half of this year, continuing a downward trend that has shown no signs of reversing, m said Gené Teare, senior reporter at Crunchbase.

Nisha Dua, co-founder of BBG Ventures, told Business Insider that returning LPs have increased their fund commitments for this fund and that new LPs include Melinda French Gates’ Pivotal Ventures, Fairview Capital and Fairview Capital. The latest BBG fund will focus on diverse founders working in healthcare, fintech and AI.