A venture fund that invests in female-led companies that aim to have a positive social impact is raising capital alongside UBS Wealth Management Americas.

UBS AG’s North American wealth-management arm of UBS has joined with venture fund, Rethink Impact, to raise more than US$110 million to invest in companies that are led by women, and that also seek to address major social and environmental issues. The fund seeks to invest in social impact companies “with a gender lens, ” particularly those that focus on health, education, environmental sustainability and economic empowerment sectors.

More than half of the fund’s capital was raised from UBS clients, including high net worth investors, family offices, private foundations, and universities, the firm says.

“We prioritize financial returns above all else for our clients. Yet, fundamentally, we believe in companies whose social impact enhances their financial returns and whose financial returns fuel their social impact,” says John Amore, managing director, UBS Wealth Management Americas, in a statement.

“Our clients increasingly want financial advice as well as innovative solutions to utilize their wealth and resources to address societal issues. As the world’s largest global wealth manager, we are well positioned to guide them and felt that Rethink Impact was a compelling solution given our clients’ investment and impact goals,” he adds.

Earlier this week, UBS issued a white paper calling on private investors to help fund effortsto empower women and achieve gender equality by 2030.

Read: The wealthy can help empower women: UBS report