Earlier this month, The American Alliance for Equal Rights recently filed a lawsuit against Fearless Fund, an early-stage venture capital firm that focuses on funding women founders of color, accusing them of racial discrimination in their grant program for Black female founders. Today, Ariane Simone and her team got a win.
“Senior U.S. Judge Thomas Thrash denied a preliminary injunction that would have blocked the grants by the Atlanta-based Fearless Fund,” @APNews reports. “The judge issued the decision in court after hearing arguments from attorneys and said he planned to issue a written order by the end of the week.”
In the American Alliance for Equal Rights’s lawsuit, they argued that Fearless Fund’s grants to Black women violated Section 1981 of the 1866 Civil Rights Act. Conservative activist, Edward Blum, claimed the Fearless Fund, engages in “explicit racial exclusion.”
“We will continue to run the nation’s first venture capital fund that is built by women of color for women of color,” Fearless Fund CEO and co-founder Arian Simone told a crowd of supporters.
Let’s go, @Fearless.Fund! #BWLM💕
