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Fearless Fund drops grant program for Black women business owners in lawsuit settlement

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A venture capital firm has closed a grant program for Black women business owners as part of a settlement with a conservative group that had filed a lawsuit alleging the program was discriminatory.

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two months after a U.S. federal court of appeals panel ordered the Atlanta-Based Fearless Fund to suspend the Strivers Grant Contest, In a statement, Arian Simone, CEO and co-founder of the Fearless Fund, said she was pleased to put the lawsuit behind her and continue with the firm’s mission of “helping and empowering women of color entrepreneurs in need.”

Alphonso David, president and CEO of The Global Black Economic Forum and counsel to the Fearless Fund, shot back in an interview with The Associated Press that the “Fearless Fund was not going to allow Ed Blum to dictate how to run their business.” David said the Strivers Grant was a small part of the Fearless Fund's operations and had already been scheduled to wind down.

“People are certainly seeing the writing on the wall on how the six-justice conservative super majority in the Supreme Court would rule in DEI-related cases,” Glasgow said.

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Fearless Fund drops grant program for Black women business owners in lawsuit settlementA venture capital firm has closed a grant program for Black women business owners as part of a settlement with a conservative group that had filed a lawsuit alleging the program was discriminatory. Both sides announced the settlement Wednesday, two months after a U.S.
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