Heather Landy - Wal-Mart Stores has established a $25 million fund to invest in a handful of women- and minority-owned businesses with the potential to supply products or services to major retailers.

In the wake of rising criticism about its pay standards, promotion policies and treatment of suppliers, Wal-Mart has spent the past two years trying to improve its corporate image.

Walmart has a class-action lawsuit involving 1.6 million past and present female employees who have accused the world's largest retailer of sexual discrimination.

Business owners can apply for funding by forwarding a brief description of the business and financing opportunity to coinvestmentfund@aldusequity.com.