An agency linked to liberal billionaire George Soros is leading the investment into a newly founded Hispanic media company as Democrats experience a downward trend in support from Latin American citizens.

According to The Daily Caller:

Former Obama administration staffer Stephanie Valencia and Jess Morales Rocketto, a former staffer of the Obama and Clinton campaigns, raised $80 million to launch the Latino Media Network, NBC News reported. In a $60 million cash deal, Latinos and prominent Democrats agreed to purchase 18 radio stations throughout 10 cities from TelevisaUnivision.

The two founders work at Equis Research, a Latino polling and research firm, according to NBC News.

Lakestar Finance, the entity associated with the Soros Management Fund, is leading the investment along with several Hispanic media figures and entrepreneurs are currently joining in to fund the new company, Axios reported. Radio entrepreneur and investor Tom Castro bought and sold over 50 stations and serves on the boards of Nelson and Cumulus Media. Al Cardenas, a former chair of the Florida Republican Party and American Conservative Union, also serves as an advisor.

“It’s pretty audacious for people like us to be doing something this big,” Rocketto said, according to Axios. “Steph and I have been raising money for a long time, but this is orders of magnitude bigger than what we’ve ever done.”

The company is planning to expand to nearly one-third of the Hispanic population in the country, according to the outlet. The station will be accessed in Los Angeles, New York, Miami, Houston, Dallas, Chicago, San Antonio, McAllen, Fresno, and Las Vegas.

The move follows multiple pollsters and data analysts reporting a massive shift in the Latino community leaving the Democrat Party, which is expected to significantly impact Democrats’ success in this years midterm elections.