Lawsuit filed against Atlanta’s Fearless Fund claims the firm violated the Civil Rights Act
For months, the Atlanta-based, Black-owned and women-led venture capital firm Fearless Fund has faced a lawsuit.
The conservative nonprofit American Alliance for Equal Rights filed the suit against the firm in August, saying that Fearless Fund’s $20,000 grant program, Fearless Strivers Grant Contest, violates the Civil Rights Act of 1866.
This all comes at a time when data shows Black business owners and Black entrepreneurs across the country face many unique challenges, including systemic racism, a lack of access to venture capital funds, barriers to accessing support services and networking opportunities, and inequitable access to business education.
According to Crunchbase, Black women founders receive less than 1% of all venture capital funding.
On Thursday’s edition of “Closer Look,” show host Rose Scott talks with Mirtha Donastorg, an economy and business reporter for The Atlanta Journal-Constitution, and a corps member with Report for America.
Donastorg, who has been reporting on the developing case, discusses the latest.
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