There is a glaring inequality in the world of venture capital that too often leaves black women at the short end in comparison to their white and male counterparts. Here's what Fearless Fund is doing to move the needle.
There is a glaring inequality in the world of venture capital that too often leaves black women at the short end in comparison to their white and male counterparts. Businesses with women of color CEOs get less than 1 percent of all VC funding every year which is the smallest sliver of a multi-billion-dollar pie. Yet despite the severe funding gap, women of color are not showing any hesitation in entering the business arena.
In addition to a robust mentorship program that matches founders with a mentor that best suits their professional growth needs, the Fearless Fund also offers an optional Celebrity Equity-Based Endorsement program. Since startups tend to have limited to hyper-restricted marketing budgets, the Fund uses its network of celebrities to connect founders with influencers to market their brand or product.
Here they share what black women should know about getting the funding they need to scale their business. Despite a lack of funding, black women are not new to entrepreneurship. Currently, there are 2.4 million businesses owned by African American women. “This is something that is who we are and it has been from the beginning of time,” Pulliam says, “We can take it all the way back to Madam C.J. Walker or the women in the household who have been creating and solving problems.
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