Facebook, Google, Apple: all companies that were started by hackers of one kind or another, grew fast, and changed the world. It's a model that still motivates computer scientists and engineers who bet everything on their own tech startups. But the next company to join that list of successes may be founded by a designer, not a hacker, if the backers of a new Silicon Valley investment fund are right. The Designer Fund will focus on companies led by Web and product designers rather than solely engineers, in hopes of creating more tech startups that specialize in compelling user experiences.

The fund is being put together by 500 Startups, a company that acts as an incubator for early-stage tech companies, trading seed funding and mentoring for a stake in a venture.