Nadia Monique Johnson, PhD (She/Her)’s Post

Federal Appeals court blocks Fearless Fund from awarding grants to Black women - but we’re still fighting. “America is supposed to be a nation where one has the freedom to achieve, the freedom to earn, and the freedom to prosper,” Arian Simone (Fearless Fund co-founder/CEO) said. “Yet, when we have attempted to level the playing field for underrepresented groups, our freedoms were stifled.” The appeals panel ruled 2-1 that allowing the $20,000 awards to be issued under the fund’s Fearless Strivers Grant Contest would be “substantially likely” to violate a federal statute that prohibits racial discrimination in contracts. ▪️ The judges in the majority, Kevin Newsom and Robert Luck, were appointed by President Donald Trump. The dissenting judge, Robin Rosenbaum, was appointed by President Barack Obama. As a reminder, this lawsuit was led by Edward Blum, the same affirmative-action opponent who broighy cases against Harvard and the University of North Carolina culminated with the Supreme Court overturning race-conscious college admissions last summer. I will continue to follow this case closely and support via donating, raising awareness, and joining collective activism. I encourage supporters to do the same. What’s at stake? Alll race-based initiatives. Full article: https://lnkd.in/epkNg4cJ #financialactivism #fearlessfreedom

Unfortunately, the federal appeals court has blocked the Fearless Fund's grant program for Black women entrepreneurs. This program was designed to address significant disparities in venture capital funding, where businesses owned by Black women received less than 1% of the $288 billion deployed in 2022 (Yahoo News - Latest News & Headlines) (Yahoo Finance). The Fearless Fund, founded by women of color for women of color, provides essential financial support, mentorship, and networking opportunities crucial for these entrepreneurs (WABE). The lawsuit led by Edward Blum, who previously challenged affirmative action policies, claims that the grant program's race-specific criteria are illegal. This decision is a step back in the ongoing effort to achieve equity in the business world (WABE) (Yahoo Finance). The Fearless Fund plans to seek further appellate review, standing firm in its mission to support underrepresented groups (Yahoo News - Latest News & Headlines) (WABE). Let's continue to support initiatives that aim to level the playing field and address systemic inequalities. #AAEA #SupportBlackBusinesses #EquityInBusiness #FearlessFund https://lnkd.in/ef3tGTxZ

Hate to see this outcome. Ms. Simone and others like her sought to provide "bootstraps" for marginalized women. They made a tough decision to forestall long term legal harm. What will you tell your (grand)kids when they ask if you resisted White Supremacy and Patriarchy in professional settings? #DEI #VentureCapital #FearlessFund "Attorneys for the venture firm called the settlement “narrow” and also suggested the fund wanted to limit the case’s scope to the 11th Circuit, which has jurisdiction over cases in Florida, Alabama and Georgia. “The impact of resolving this matter is significant in that a decision by two judges on the 11th Circuit will not bind the country,” said Alphonso David, president and CEO of the Global Black Economic Forum and an attorney in the case. “The Fearless Fund can now continue their work toward expanding economic opportunity.” ... The Fearless Fund will shutter its grant program for Black women to end a lawsuit with affirmative action opponents, marking a major retreat by diversity advocates grappling with a legal environment in which race-specific programs are proving nearly indefensible in certain jurisdictions. Both parties said the Atlanta-based venture capital firm, which invests in early-stage companies owned by women of color, agreed to close the Fearless Strivers grant contest reserved for Black female-owned businesses. In June, a three-judge panel of U.S. Court of Appeals for the 11th Circuit temporarily enjoined the Fearless Fund from closing its application window and awarding the $20,000 grants, finding that doing so would probably discriminate on the basis of race. “Race-exclusive programs like the one the Fearless Fund promoted are divisive and illegal,” said Edward Blum, the conservative activist behind the Fearless Fund lawsuit and architect of a broad campaign to dismantle diversity, equity and inclusion (DEI) initiatives. “Opening grant programs to all applicants, regardless of their race, is enshrined in our nation’s civil rights laws and supported by significant majorities of all Americans.”" https://lnkd.in/ee9AVu9u

VP Harris' new plan for Black entrepreneurs. This is so comprehensive. Enabling black and non-white entrepreneurs is so fundamental to what Kamala has always believed in! And what is the Dude proposing except more fear??? "Harris’ plan includes providing forgivable business loans for Black entrepreneurs, creating more apprenticeships and studying sickle cell and other diseases that disproportionately affect African American men." And more. https://lnkd.in/eJH-saYM

A VC fund dedicated to funding businesses run by Black women is not discrimination. The reason is that data show businesses run by Black women currently garner a tiny share of funding globally. This is not equitable. Hence, we need funds focused solely on funding underfunded groups in order to move towards equitable funding for all. This is one of the few ways we can end the actual discrimination happening which is against Black women. #racialequity #genderequity #VCbias

On my way to Clark Atlanta.... To discuss one of my favorite topics. 😍 Particulary speaking about black women & wealth. 💰 Black women are paid 1/3 less than white men for doing the same work (Source: American Association of University Women report) 💰 In 2019, the median wealth of black United States was 24,100 vs. $189,100 for white households.(Id.) 💰 In 2022, for every $100 in wealth held by white households, black household held only $15 (www.brookings.com) 💰 Black women led businesses get less bank funding, more likely to not to ask for funding because of fear of rejection, and receive less than 1% of venture capital funding. (Id and S.E.C. Report on Capital formation at www.sec.gov) I could go on but....you get the idea. These are FACTS and I have a responsibility to do what I can to make these not facts in the years to come. ✊🏾 Hope to see some of you there!!! (See previous post with flier)

I am disgusted, but not surprised, by the decision from the 11th Circuit Court of Appeals in the American Alliance for Equal Rights versus Fearless court case. This ruling means that the Fearless Fund, a grant developed by Black women to support Black women owned businesses, can no longer support these businesses. We are told to pick ourselves up by our bootstraps. To reach around to help each other. To work hard. To believe in the dream of upward mobility. But how is this anything other than gaslighting when something as fundamentally positive as a fund created by Black people to support other Black people is met with widespread vitriol before quickly being put to an end? The reality is that simply existing as a Black person is political, whether we want it to be or not. Being Black means that someone can, and will, take offense by anything we do—and there are systems in place to both lead and support any effort meant to oppress us. From enslavement, to reconstruction, to Jim Crow, to mass incarceration, to rolled back venture capitalist funds—the process continues. As a Black woman who has fought hard for my success (and benefitted from the unwavering support of my community), I’m using this day to remind myself and others of our ongoing duty to dismantle local, domestic, and global systems of oppression. To other marginalized people, this is not our fight alone. Those in dominant, privileged positions need to be doing everything they can to suppress the rising tide against equity and freedom. I am also using this day to unwind. Just as resistance is political, so is rest. When your existence is political, rest is a revolutionary act. Indulge as needed. Here’s to fighting the good fight. #fearlessfund #equity #DEI #systemicoppression #grants

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YWCA South Florida is disappointed in the recent decision by the 11th Circuit U.S. Court of Appeals to block the Fearless Fund from continuing its Fearless Strivers Grant Fund process, as the anti-affirmative action case against the fund moves forward. This is yet another example in a startling trend among anti-affirmative action activists using laws meant to uplift and level the playing field for businesses and entrepreneurs of color to push an opposing agenda. Specifically, this lawsuit aims to turn the Reconstruction-era law section 1981 of the 1866 Civil Rights Act against its initial goal of protecting formerly enslaved people from economic exclusion. Economic opportunities for communities of color, and particularly women of color, continue to lag behind other groups, and the economic gap along racial and gender lines is continuing to widen. Programs like the Fearless Fund and others are crucial and necessary to unravel the historic and structural patterns of economic disenfranchisement of Black communities. We still have a long way to go in equal opportunity, and we cannot lose momentum now. While the outcome of the case is still to come, it has the potential for far-reaching consequences for organizations in South Florida. YWCA South Florida is committed and unwavering in our work to creating a more equitable society through pathways and opportunities for historically marginalized communities. We are not discouraged, and will continue the work we have been doing for more than 104 years. https://bit.ly/4egQPWb

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