Fearless Fund Fights Back: Black Venture Capital Firm Faces Lawsuit Alleging Racial Bias
Fearless Fund, an Atlanta-based fund that invests in women founders of color, has responded to a racial discrimination lawsuit filed against it by the American Alliance for Equal Rights (AAER). The fund stated that it is proud of its work and remains committed to providing economic opportunities for women of color. AAER accused Fearless Fund of racial discrimination over a grant program for Black-women-owned small businesses. The outcome of the lawsuit could have implications for venture capital investments and startup support. Fearless Fund recently raised a multi-million-dollar fundraise from Costco and Mastercard.