Financial services company Synchrony has announced a $15 million commitment in support of venture capital funds led by Black and Latinx female investing partners.

The commitment builds upon a broader effort by the company to support minority and women entrepreneurs and underrepresented communities while advancing Synchrony Ventures' direct investment strategy to accelerate growth and innovation for Synchrony, its partners, and consumers. Funds selected to receive money will support early-stage startups across the fintech, healthcare, and future-of-work sectors. Initial recipients include Chingona Ventures, which is focused on technology around financial services, women, and food, as well as health and wellness, the future of learning, and the future of work; Seae Ventures, a health care-focused fund that aims to balance the needs of patients, providers, and payers; and Zeal Capital Partners, which has a dedicated focus on "inclusive investing." Additional funds will be announced later this year.

"For too long, Black, Latinx, and female founders have been underrepresented in venture capital funding," said Trish Mosconi, EVP, chief strategy officer, and corporate development leader at Synchrony. "Together, we must take collective action to help close the venture funding gap and provide equal access to capital for diverse entrepreneurs and underserved communities."