A pair of Republican judges appointed by indicted former President Donald Trump have ordered the Fearless Fund to stop supporting businesses led by Black women.
The Fearless Fund is an Atlanta-based venture capital firm that uses its resources to invests in and fund Black women in business. The fund has invested $25 million into over 40 companies that include Slutty Vegan, The Lip Bar, Partake Foods, and Live Tinted. The Fearless Fund also hosts training and financial literacy programs.
Initially, Judge Thomas Thrash concluded that under the U.S. Constitution’s First Amendment’s free speech protections, Fearless Fund had a right to express its belief in the importance of Black women to the economy through charity.
On Oct. 1, U.S. Circuit Judges Robert Luck and Andrew Brasher sided with Edward Blum in stating that the Fearless Fund violated the Section 1981 of the 1866 Civil Rights Act, a Civil War-era law that bars racial bias in contracting. They claim free speech “does not give the defendants the right to exclude persons from a contractual regime based on race.”
However, over $70 billion was allocated for VC funding in 2023, according to Crunchbase. Less than 1% of that amount went to companies founded by Black people. In turn, Black business owners have to seek funding from alternative means.
Luck and Brasher were both appointed by Trump in 2019. Luck was also appointed to the Florida Supreme Court by Governor Ron DeSantis.
They sided with Edward Blum, president of AAER. Blum appears to be on a racially-charged mission to destroy the progression of Blacks in America. Blum has filed three lawsuits since August challenging grant and fellowship programs designed to help Black, Hispanic and other underrepresented minority groups achieve greater career opportunities.
Blum is also the face of the initial lawsuit that led to the dismantling of Affirmative Action. For over a decade, Blum filed multiple lawsuits and was only successful after a Supreme Court, filled with multiple Trump appointees, used its power to end race-base admissions on college campuses.
Blum and his organization should not be considered a lone-wolf. He’s a right-wing conservative who is received millions in contributions from other conservative donors.
Blum has received funding from the Searle Freedom Trust, the Scaife Foundation and Bradley Foundation, alongside at least $3 million from Donors Trust, according to Slate.
But while Blum seeks to destroy any assistance that Black people may receive via education and business, he fails to note how disparities continues to exist in every sector of American society.
So it’s not that Blum and the white women and Asian woman he represents are being excluded from funding, his organization is strategically seeking of ways to cause further pain to Black Americans through the legal system.
The post Trump-Appointed Judges Block Fearless Fund From Supporting Businesses Led By Black Women appeared first on Atlanta Daily World.