Reported 11 months ago
Ayana Parsons, a co-founder of the Atlanta-based venture capital firm Fearless Fund, has resigned from her position as chief operating officer as the company faces a lawsuit challenging its grant program for Black women business owners. The lawsuit is part of a broader backlash against corporate diversity initiatives. Parsons expressed her commitment to advancing women and people of color by focusing on new strategies and tactics to overcome legal challenges. The Fearless Fund, established in 2019 to address funding disparities for women of color, has invested nearly $27 million in 40 businesses led by women of color, including well-known brands like Slutty Vegan and Thirteen Lune. The lawsuit against the grant program, led by conservative activist Edward Blum, alleges discrimination and is currently under legal review.
Source: YAHOO