One Way Ventures, the new Boston-based venture capital firm focused on backing immigrant founders, is seeking to raise a $50 million fund.

The VC firm has raised $16 million in its first close for the fund, according to a new filing on Monday with the U.S. Securities and Exchange Commission. The firm was founded by Semyon Dukach and Eveline Butchaskiy earlier this year after they served as directors of the Techstars Boston startup accelerator for three years.

“We really believe that it’s a fundamental human right to be able to move to another country and build a business and be entrepreneurial and free,” Dukach, who stepped down from Techstars in May, told BostInno in July.

Dukach has said that One Way wouldn’t exclusively focus on startups with first-generation immigrants and founders, opening it up to any entrepreneur who considers the immigrant experience a defining part of who they are.

“It’s more a question of identity and influence and formative experience,” he said.