Fearless Fund Ends Grant Program for Black Women

The Fearless Fund, an Atlanta-based venture capital firm, has permanently closed its grant program for Black women entrepreneurs following a settlement with the conservative American Alliance for Equal Rights. This decision comes after a year-long lawsuit claiming the program was racially discriminatory against non-Black applicants. The grant contest, which awarded $20,000 to Black women-owned businesses, is now terminated as part of the settlement to dismiss the case. The lawsuit was significant in the context of ongoing debates surrounding diversity and inclusion initiatives, particularly as similar challenges arise across various sectors. The Fearless Fund, which has aimed to address the disparity in venture capital funding for Black women, stated that this settlement would allow it to pursue other charitable activities without restriction. Critics of the settlement argue that it undermines efforts to support minority-owned businesses.