GV partner raising up to $50 million for new fund

Lo Toney, a partner at GV (formerly Google Ventures), is looking to raise up to $50 million for an upcoming fund-of-funds named Plexo Capital, according to an SEC filing.

Why it matters: As Axios previously reported, Plexo will be focused on seed funds led by women and/or minority general partners, a budding but still incredibly small portion of venture capital.

Go deeper: An interview with Toney about Plexo Capital.