Actress Keshia Knight Pulliam and Fearless CEO, Arian Simone are helping black women entrepreneurs.
The ladies launched a venture capital fund—dubbed the Fearless Fund, to close the racial and gender gaps that Black women entrepreneurs face when trying to secure venture capital. According to Fast Company, although Black women are the fastest-growing group of business owners in the country, less than one percent of founders get VC funding. Both Simone and Keshia Knight Pulliam are on a mission to address this issue and help women who have been impacted by these disparities fulfill their entrepreneurial dreams. Through the fund, money will be allocated to pre-seed, seed, and Series A startups.
Amongst some of the companies that they’ve started working with include a fitness app called Activvely, an all-natural, antioxidant-rich hibiscus tea brand named Ellis Island Tea, and a digital platform called Reset that provides flexible and affordable workspace options, according to Essence. The fund has also partnered with EnrichHER, which is a lending platform that provides women-owned businesses with access to capital and 100 Black Angels which is focused on building Black generational wealth through entrepreneurship.