This article originally appeared on AustinInno. 

True Wealth Ventures, an Austin-based venture capital firm focused on women-led companies, has raised $4.7 million of a planned $20 million fund.

The firm has already begun vetting several Austin-based startups, and it will likely announce its first investment sometime this fall, Founding General Partner Sara Brand said.

True Wealth Ventures focuses on startups that have women in decision making roles, such as founders and executives, and is focused primarily on sustainable consumer products, such as smart home devices that save energy, and consumer health products, such as wearable fitness products. It will provide seed funding of $250,000 to $500,000 for three to four companies each year of its four-year investment cycle.

Although startups that have women in key decision making roles tend to provide better financial returns, only about 3 percent of VC investment dollars go to women-led startups, Brand and General Partner Kerry Rupp said. Women are the primary decision makers for consumer and personal healthcare product purchases, making women-led startups uniquely poised to capture market share.

“We expect to get higher financial returns just by the diversity of the portfolio,” Rupp said.

Austin, home to Whole Foods and the Dell Medical School, has a lot of opportunity in both consumer and health products, but it has a limited number of VC firms focused on such innovations.

“Austin is so well poised to innovate on with all the talent in the community,” Brand said. “It’s a great fit, culturally, for Austin.”

True Wealth Ventures formed in 2015 by Brand, a former AMD executive and owner and co-founder of (512) Brewing Company. Rupp is the former CEO of DreamIt Ventures and is an active consultant and startup mentor at Capital Factory.

True Wealth Ventures hopes that funding startups with women decision makers will provide more wealth for women to get involved in venture capital, which is dominated by white men, and interested in investing in education, health and community.

“It’s an untapped, undercapitalized, underfunded opportunity,” Brand said.