500 Startups is showing its support for the LGBT (Lesbian, Gay, Bisexual, and Transgender) community by launching the Rainbow Round. This is a monthly meeting made for LGBT members from the tech sector, according to TechCrunch.

The investment firm backed the LGBT's first meetup last fall. The company invited some startup founders to share their success stories. When that event clicked, 500 Startups decided to make Rainbow Round a regular event where LGBT founders, investors, and employees can talk about their interests and hurdles in the tech community, the report explained.

500 Startups has teamed up with StartOut, a nonprofit organization for LGBT entrepreneurs, and Galvanize, a tech business community. Together, these three organizations work for the launching of the Rainbow Round series, the report detailed.

Rainbow Round will be first held on March 19 at the San Francisco headquarters of Galvanize. Transh4ck founder Kortney Ryan Ziegler will be the inaugural speaker of the event. The succeeding meetups will see participation from LGBT leaders and venture capitalists from the tech sector, TechCrunch reported.