Northwestern Mutual Future Ventures will dedicate $20 million to investing in startup companies founded by Black entrepreneurs, the company announced today.

“At Northwestern Mutual, we’re dedicated to supporting and promoting diversity not just within our company, but within our communities and the businesses we partner with nationwide,” Northwestern Mutual Chief Product and Innovation Officer John Grogan said in a statement. “Allocating $20 million is only the beginning, we will continue to invest in and provide opportunities for Black founders.”

According to a release, investments will be made in companies that are aligned with Northwestern Mutual Future Ventures’ key strategic areas of focus, which include building for consumers’ changing financial preferences, reimagining the client experience, the digital health revolution and transformational analytics and technologies.

Northwestern Mutual also announced the launch of the Northwestern Mutual Black Founder Accelerator, a 12-week program that will begin in early 2021. It will feature up to two cohorts of five companies, and the startups must be aligned with the venture funds’ investment areas of focus.

Applicants can apply for the accelerator here.