Fearless Fund challenges court order blocking a grant program exclusively for Black women entrepreneurs

Source: CNN

Published 7:00 AM EST, Wed January 31, 2024


CNN — A Black women-owned venture capitalist firm will appear before a federal appeals court in Miami Wednesday to challenge a temporary injunction that has prohibited the group from awarding grants exclusively to Black women entrepreneurs.

The hearing is the latest in an ongoing legal battle between the Fearless Fund and the American Alliance for Equal Rights (AAER), a nonprofit headed by Edward Blum, the legal strategist behind the Supreme Court case that dismantled affirmative action in college admissions last June.

Arian Simone, co-founder and CEO of the Fearless Fund, said in a statement this week that her organization remains “undeterred by this relentless, concerted attempt to set economic equity back.” “In fact, since our most recent court appearance, we’ve expanded our practice to be a one-stop-shop for women of color entrepreneurs who are seeking guidance and financing to help grow their businesses,” Simone said.

Last August, Blum filed a lawsuit on behalf of AAER against the Fearless Fund and its foundation over its Fearless Strivers Grant Contest program, which offers funding exclusively to Black women entrepreneurs.

Read more: https://www.cnn.com/2024/01/31/us/fearless-fund-challenge-injunction-reaj/index.html