Fearless Fund, the venture capital firm dedicated to supporting diverse women entrepreneurs, is back and reaching out to the Black diaspora.
Following the dismissal of their long-winded court battle over anti-DEI concerns, the Fearless Fund can continue to support women-owned businesses through venture capital funding. Prior to its legal roadblock, the fund had helped over 1,000 women founders raise capital and secure loans despite systemic barriers.
Now, they plan to scale up their efforts with the launch of a new microfinance fund in Ghana. The fund will bestow $100,000 in Ghanaian Cedis to women entrepreneurs through a pitch competition.
The activation aims to reduce barriers toward wealth and success for women founders across Africa. Given the economic opportunities across many African countries, Fearless Fund hopes to tap into this sector, giving women a vital pillar of support while bringing their ambitions to life.
“Expanding our mission to Africa has always been central to closing the global wealth gap,” said Queen Wa Arian Simone, CEO and Founding Partner of Fearless Fund, in a press release shared with BLACK ENTERPRISE. “Africa represents one of the world’s
most dynamic economic frontiers, powered by a booming youth population and relentless innovation. Our presence in Ghana ensures founders have the critical access to capital needed to build and scale. Fearless Fund is a beacon of what’s possible when women of color lead with vision and power.”As for its start in Ghana, Fearless Fund seeks to build upon the nation’s vibrant women-owned businesses, helping them scale their operations to accrue greater profits. The fund will also allocate loans to these entrepreneurs, ranging from GHS 10,000 to GHS 30,000, to boost job creation and economic growth.
the Fearless Fund has reemphasized its commitment to its original mission, providing a financial resource for women of color as they explore their business ambitions. While the anti-DEI push threatened its legacy and ability to serve this underrepresented demographic, its legal win has granted them more agency to spark change in the finance world.Fearless Fund already has its footprint visible on a global scale. Alongside startup investments and grants bestowed across Africa, the fund also partnered with TRACE Academia for a business education program for homegrown entrepreneurs.
Now, with further investment in Ghana, the Fund will continue growing its roots in West African. As the initiative gets off the ground, it provides new opportunity and resources for the women founders who shape the global economy.
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