Statement on US Cour of Appeals Fearless Fund Decision

Statement on U.S. Court of Appeals Fearless Fund Decision

The U.S. Court of Appeals recently suspended Fearless Fund’s grant program that supports Black women business owners. The ruling upholds the claim brought by the American Alliance for Equal Rights that the program is racially discriminatory. This decision is just the latest in a slew of legal battles that have been brought by anti-diversity groups that seek to use the tools of progress against us to unwind decades of progress and inhibit future strides towards parity, fairness, and equity.

Women of color have been historically excluded from the investment field and subsequent opportunities. According to a recent study by Deloitte and Venture Forward, only 2% of investment professionals at venture capital firms were Black women in 2022.  

Racism has a strong and harmful foothold on our country, and initiatives that seek to support people who are structurally pushed to the margins should be sustained and expanded – not torn down. Efforts that intend to make 36.9% of the population invisible like these are actively being resisted. This is a call to be fully seen, unapologetically prioritized, and appropriately recognized for all that we bring to heal this nation and all of its people. We will not be silent, and we are far from dormant.