Richie Serna, founder and CEO of fintech company Finix, had already raised $30 million in a Series B extension last year, but his cap table was missing something.

The first-generation Mexican-American sought a more diverse representation in his investor base. So he created a special purpose vehicle (SPV) for Black and Latinx investors that went on to raise $3 million, TechCrunch reported.

For today’s article curation of must-read tech and innovation articles, the Plug In South LA Beat, let’s see how Serna’s SVP is rewriting the story of access in Silicon Valley:

Fintech Startup Finix Closes on $3M in Black and Latinx Investor-led SPV

Photo: Finix founder and CEO Richie Serna. Credit: Richie Serna on Twitter