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Fearless Fallout

Changing the landscape for black and brown founders

The reverberations are just beginning to be felt following a lawsuit filed in August against the Atlanta-based Fearless Fund, a venture capital firm focused on bridging the gap in venture capital funding for women of color founders. The plaintiff is the American Alliance for Equal Rights, a conservative organization spearheaded by Edward Blum, who has notably influenced legal actions challenging affirmative action in higher education. This lawsuit claims the Fearless Fund's small business grant program, which offers $20,000 exclusively to Black women, is discriminatory. A recent court decision has put a temporary stop to these grants, pending the legal proceedings. This development highlights the systemic hurdles that entrepreneurs from marginalized communities often encounter when seeking financial support.

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Catherine Griffin, an Impact Entrepreneur correspondent, is the founder of ImpactableX, and draws from nearly a decade of experience with impact measurement and management. Her work has been featured in FastCompany, the NYT and Forbes.

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