cross-posted from: https://yall.theatl.social/post/3026333
The fund was created to assist Black women-owned businesses which receive less than 1 percent of overall investment funding annually.
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.
. . . The United States Court of Appeals for the Eleventh Circuit recently upheld an injunction against the Fearless Foundation that has prevented the nonprofit organization from issuing grants to women of color-owned businesses since last August. The judges sided with Edward Blum, president of AAER, who filed the lawsuit.
A three-judge panel, two judges appointed by Donald Trump and one by President Barack Obama, ruled 2-1 that Fearless Fund is not protected by the First Amendment in its efforts to provide grants for Black women in business.
The court ruled that the Fearless Fund 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 fund was created to assist Black women-owned businesses which receive less than 1 percent of overall investment funding annually.
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.
. . . The United States Court of Appeals for the Eleventh Circuit recently upheld an injunction against the Fearless Foundation that has prevented the nonprofit organization from issuing grants to women of color-owned businesses since last August. The judges sided with Edward Blum, president of AAER, who filed the lawsuit.
A three-judge panel, two judges appointed by Donald Trump and one by President Barack Obama, ruled 2-1 that Fearless Fund is not protected by the First Amendment in its efforts to provide grants for Black women in business.
The court ruled that the Fearless Fund 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.