Fearless Fund Co-Founder Steps Down Amid Legal Battle

Ayana Parsons resigns as COO while the firm faces a lawsuit challenging its grant program for Black women entrepreneurs.

Fearless Fund co-founder Ayana Parsons has resigned from her role as COO but remains an investor.
The fund is embroiled in a lawsuit by the American Alliance for Equal Rights, claiming its grants violate the Civil Rights Act of 1866.
An appeals court has upheld an injunction, halting the grant program for Black women business owners.
The lawsuit has significantly impacted the fund's ability to raise new investments.
Parsons plans to focus on new strategies and spend time with her family in the Caribbean.