Fearless Fund, the Atlanta-based venture firm focused on Black women entrepreneurs, was back in federal appeals court yesterday. The fund is fighting a case trying to shut down the organization’s efforts to support Black women business owners and entrepreneurs.
Lawyers for the firm, run by co-founders Ayana Parsons and Arian Simone, fielded questions in a Miami courthouse Wednesday about their grant program. The American Alliance for Equal Rights (AAER) claims their programs are discriminatory because they focus on supporting minority women.
The ramifications of the case cannot be overstated, Simone said on her newly-launched podcast Fearlessly Living last week. In the first episode, Simone sat down with Atlanta rapper T.I. to discuss, among many different topics, the pending litigation and what it means for the future of DEI (diversity, equity, and inclusion) efforts in the business world.
The Fearless Fund
She said that the Fearless Fund case could have a “domino effect” on gender-based or race-based scholarships and business programs that support underrepresented founders.
Fearless Fund has been an important part of the Atlanta investment ecosystem, having deployed $26 million in investments into venture-scalable companies, plus millions more in grant money into women-owned businesses.
Even as the court case continues, Simone and the Fearless Fund team have not been silent. The Fearlessly Living podcast, in partnership with REVOLT, is the latest way Simone is sharing her story. You can catch up on the first three episodes here.
Hypepotamus asked Simone how the local tech ecosystem can show their support. She said it all comes down to practicing what you preach.
“The tech industry has to mean what they say. If diversity truly means something to them, they need to be able to show people from underrepresented communities, like women of color, that they mean it,” she told Hypepotamus. “It’s proven that diversity is not only critical in sustaining businesses, but it’s also a key driver for innovation. Since conception, our goal at the Fearless Fund has been to help women of color step into their desired industry and be given the same respect and opportunities as their counterparts – and yes, the tech ecosystem is one of those spaces. We are calling for all supporters to raise awareness, submit an amicus brief to be on record with the court, vote and hold electoral candidates accountable to upholding equitable economic practices, and lastly our supporters can donate to fearlessfund.foundation to help us sustain our fight for justice.”
