09/12/2024

The Anti-DEI Lawsuit Against the Fearless Fund Was Just Settled

The firm and the American Alliance for Equal Rights reached a settlement

The Atlanta-based VC firm Fearless Fund and the American Alliance for Equal Rights (AAER) announced that they have settled a lawsuit waged against the Fearless Fund's grant program for Black female entrepreneurs. The fund also has agreed to cease the grant contest, according to a statement from the AAER.

In August 2023, the AAER, a conservative nonprofit group, sued the Fearless Fund because of its Strivers Grant Contest, which offered businesses majority-owned by Black women entrepreneurs $20,000 grants as well as mentorship.

In June, that program was blocked by a U.S. federal appeals court, which stated in its decision that the contest was "substantially likely to violate" section 1981 of the 1866 Civil Rights Act, as Inc. previously reported. That court upheld the preliminary injunction against the program.

Please select this link to read the complete article from Inc.