Statement: Dream.Org Urges Support of the Fearless Fund and Initiatives for Minority Communities

This week, the U.S. Court of Appeals for the 11th Circuit ruled that the Black-women owned venture capital firm, Fearless Fund, must suspend its business grant program created to benefit Black women entrepreneurs. The panel of 3 judges voted 2-1 in agreement that the Fearless Fund’s Strivers Grant program potentially violates the federal Civil Rights Act of 1866, a law created to provide economic freedom for newly freed slaves, because of the fund's core mission to support Black women and women of color.

In response to the passage of this ruling, Dream.Org Chief People Officer Rachel King issued the following statement: 

“The recent court ruling to suspend the Fearless Fund's Strivers Grant is deeply disheartening. This decision not only undermines tireless efforts for true equity and equality but it serves as a direct threat to the businesses and women that the organization has been dedicated to empowering. The precedent that has now been set should be one that we all resist and fight against as it is creating a larger gap for marginalized communities.

The Fearless Fund has been instrumental in providing resources, education, mentorship, and most importantly capital to Black women who have been historically overlooked, underrepresented, overworked, and underfunded. This ruling disregards systemic barriers and undermines the work of diversity, equity, and inclusion. More specifically, it jeopardizes progress for Black women in the business world where they are already barely visible. The repercussions of this ruling will not only affect Black women, but also the progress of Black families and their communities. I, along with our organization, strongly disagree with this ruling. At Dream.Org, we will remain committed to supporting initiatives that ensure all women, regardless of race, have equal opportunity to thrive.”

ABOUT DREAM.ORG

At Dream.Org, we bring people together across racial, social, and partisan lines. Through our Justice, Tech, and Green For All programs, we are working towards an America with fewer people behind bars, less pollution, and greater opportunities for underserved communities.