Photos: YouTube Screenshots
On Saturday, the Atlanta-based 11th U.S. Circuit Court of Appeals granted the request of conservative activist Ed Blum‘s American Alliance for Equal Rights petition to temporarily block the Fearless Fund from helping Black businesswomen receive venture capital funding.
Blum is the same figure who successfully launched a campaign attacking affirmative action which recently culminated in the conservative Supreme Court ruling in the Students for Fair Admissions v. Harvard case. Blum’s activities against affirmative action is reportedly bankrolled by conservative groups like: the Donors Trust, the Searle Freedom Trust, the Sarah Scaife Foundation, and The 85 Fund.
Lawyers for the Fearless Fund released the following statement after Saturday’s ruling:
“We strongly disagree with the decision and remain resolute in our mission and commitment to address the unacceptable disparities that exist for Black women and other women of color in the venture capital space. We all know the abysmal rate of investments for Black women, and we have been working to do what we can to provide some support to our community. Other groups have issued grants to support their communities for decades and we are simply doing the same to support our community. We will comply with the court’s order but remain strong in our faith and look forward to further appellate review.”
