The venture capital firm Fearless Fund created a $20k grant specifically for Black women starting businesses, targeting a woefully underserved community.
Firms started by Black women received only .0006% of VC funding raised by startups between 2009 and 2017, highlighting the extreme underfunding they face.
The American Alliance for Equal Rights encouraged the Fearless Fund to open its grant contest to women of various backgrounds, but the fund chose to end it entirely.
Fearless Fund remains committed to empowering women of color entrepreneurs despite legal challenges that threaten targeted initiatives aimed at systemic inequality.
#venture-capital #black-women-entrepreneurs #systemic-inequality #fearless-fund #discrimination-lawsuit
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