The group has pledged 125 million USD to a new initiative, the Asian American Foundation, which has raised another 125 million USD from Walmart, Bank of America, the Ford Foundation and the National Basketball Association.

The effort comes amid a surge in violence against Asian-Americans. Over the past year, hate crime against Asian-Americans have jumped 169%, according to a study by the Center for the Study of Hate and Extremism at California State University, San Bernardino, which tracks the crimes in 15 major American cities. In New York City, hate crimes have risen even more, 223%.