Did you know that less than 1% of VC funds go to women of color? Why are we not hearing more about the Fearless Fund ruling – are we so afraid to speak out against injustice when we see it? Why are we not seeing more outrage that a law from the 1800s – originally designed to *help* the Black community post-slavery – is now being used as a justification to discriminate?
In her dissent, Judge Beverly Martin highlighted the persistent inequities faced by Black women in the business world. “This decision undermines efforts to address historical and systemic discrimination,” she wrote. “Black women entrepreneurs continue to face significant challenges that are not adequately addressed by existing structures.”
Court Blocks Fearless Fund from Giving Grants to Black Women Entrepreneurs – Christina Santi via Waymaker, 4 June 2024.
This ruling is an ugly turn for an amazing organization which provides venture capital to Black and brown women to start new businesses.
Unfortunately, it’s not an isolated case. TechCrunch recently wrote that this is one of at least three lawsuits targeted at organizations that support founders of color.
I am afraid for the future of this country if we need an Executive Order to protect and support those who need it the most. Never mind the incredible untapped potential of our Black and brown women who are starting businesses in record numbers.
This ruling has been called a “rallying cry for all who value diversity, equity, and inclusion.” It’s time for all of us to speak up to ensure we have the diverse business landscape that would actually make this country great again.
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