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New Intel Capital Diversity Fund invests in CareCloud

Miami-based health-tech company CareCloud was one of the first four companies funded by a new Intel Capital initiative to back startups run by women or minorities, the Silicon Valley Business Journal reported Tuesday.

The new $125 million Intel Capital Diversity Fund will invest in companies in which the CEO or founder, or at least three executives that report to the CEO, are women, black, Hispanic or Native American.

Along with CareCloud, an electronics health records and physician management platform founded by Albert Santalo, the others are San Francisco-based Brit + Co and Mark One Lifestyle and Venafi of Salt Lake City. Amounts of the funding were not disclosed. CareCloud recently announced a $15 million investment by existing investors.

Intel pledged to spend $300 million over the next five years to get "full representation" in the company's workforce by women and minorities by 2020, the Silicon Valley Business Journal said. A BabsonCollege study said that just 3 percent of venture dollars went to startups led by a female CEO.