Why Fearless Fund & Grants for Black Female Founders are Under Attack…

According to an article from Business Insider, Black female founders and companies led by Black women typically receive less than 1% of all venture capital funding across the board. VC funding totaled nearly $330 billion in 2021 and $216 billion in 2022, putting Black founders’ shares at just 1.3% and 1%.

Small business grants targeting funding to black and brown founders have grown exponentially over the past three years. Now, they are becoming the target of attacks by activist groups looking to dismantle the economic progress made by founders of color since the social unrest of George Floyd as well as COVID-era changes to how black founders achieve funding.

One group leading the attack is America First Legal (AFL), the Texas-based organization that was instrumental in dismantling protections for African-American and Hispanic applicants to Harvard University, eventually succeeding in overturning previous Supreme Court rulings that had allowed universities to employ affirmative action programs in their admission processes.

Led by Stephen Miller, and Jonathan Mitchell, the first attack began against the…