Fearless Fund Settles DEI Attack In Court, Shuts Down Grant For Black Women In Business

The Fearless Fund will end its grant program for Black women in business. On Sept. 11, Fearless Fund settled a lawsuit that claimed the organization violated the 1866 Civil Rights Act which prohibits the use of race in making contracts. The original law was issued to remedy discrimination against Black Americans post-slavery.& The Fearless Fund is an Atlanta-based venture capital firm that uses its resources to invests& in and fund Black women in business. The fund has invested $26 million into over 40 companies that include Slutty Vegan, The Lip Bar, Partake Foods, and Live Tinted. The Fearless Fund also hosts training and financial literacy programs. Edward Blum, president of AAER, who filed the lawsuit, was one of the people who led the charge to end Affirmative Action in higher education. Since the Supreme Court ended race-based admissions at colleges, Black enrollment has decreased significantly at schools nationwide. However, legacy students, who are more likely to be white, were not impacted by the ruling.& The lawsuit filed by Blum claimed that Fearless Fund’s Striver’s grant didn’t offer the funds to white women and other ethnicities.& The settlement avoids a potential Supreme Court ruling that could have had sweeping impact for...