Conservatives (read: racists) have spent a considerable amount of energy working to take down the Fearless Fund over its simple premise: To raise capital for business run by Black women — one of the most underrepresented and marginalized demographics in corporate America.
Now, the Fearless Fund announced that it endured a loss within its ranks: On June 24, Chief Operating Officer Ayana Parsons confirmed with The Atlanta Journal-Constitution that she left her position at the venture capital firm that invests in Black female-led businesses in April.
Parsons launched Fearless Fund in 2019 with entrepreneur and author Arian Simone and actress Keisha Knight Pulliam to give Black female entrepreneurs access to much needed capital to establish and sustain their businesses.
But the firm has been a constant target of conservative groups who have forced them to defend their support of Black women-owned businesses in court. Earlier this month, a Federal court of appeals ruled against the Fearless Fund after the American American Alliance for Equal Rights claimed their Fearless Strivers Grant Contest, which awards $20,000 grants to businesses majority owned by Black women, discriminates against other groups.
Parsons told the AJC that the Federal lawsuit against the organization was not a factor in her leaving, but in a post to her LinkedIn page, she hinted at the idea that leaving was the best way she could support the organization she founded in light of the conservative threats.
“I remain steadfast in my support of the Fearless Fund and committed to the advancement of women and people of color,” she shared in the June 24 statement. “The best way I can do that is to boldly focus on new strategies and tactics. Because if the courts are going to sideline our best practices, we need to design and implement alternatives. We must innovate.”
Although Parsons hasn’t shared her next move, she promised to continue her work in a June 25 Instagram post, even while she’s enjoying her summer.
“Thank you for your unwavering support and know that, in this next chapter of my neverending story, I’ll be enjoying island life with my amazing family while continuing to fight for and embody FREEDOM. ✊🏾✊🏼✊🏿” she said.