The Fearless Fund announced the launch of its Get Ready Venture Program to prepare and position minority women of color to receive venture capital funding.
The 12-month intensive training will equip female startup founders to overcome the challenges that threaten entrepreneurial equity and aptly navigate the discriminatory bias in the VC world.
“People of color, and especially Black women, have been left out of the conversations of VC and corporate funding for small businesses for far too long,” said Arian Simone, co-founder of The Fearless Fund. “Systemic change cannot survive without economic empowerment and investment in Black entrepreneurs from the top down.”
“We are proud to be purveyors of change within the VC and investment industry and fund the dreams women of color led startups.”
Participants of the Get Ready Venture Program will acquire the needed mentorship, knowledge, and skills needed to unlock access to capital and build scalable, venture attractive companies.
Fearless Fund invests in women of color-led businesses seeking pre-seed, seed level, or series A financing. Its mission is to bridge the gap in venture capital funding for women of color founders building scalable, growth aggressive companies. Fearless Fund is built by women of color for women of color.
According to Entrepreneur, Black women-owned businesses are the fastest-growing economic force in the U.S. and yet have the least access to capital.
In 2018, Fortune reported that U.S. companies raised a total of $130 billion in VC funding and only 0.006 percent of total funding was allocated toward businesses founded by minority women.
The Fearless Fund is the first fund led by women of color for women of color. Simone, and co-founders actress Keshia Knight Pulliam and Ayana Parsons, organized the Fearless Fund to invest capital into the businesses of minority female entrepreneurs.
In addition to a robust training program, the team is leveraging their network to feature coveted masterclasses of successful industry experts and celebrity thought leaders including Rodney Sampson, tech investor and entrepreneur; Piera Gelardi, co-founder of Refinery29; Arlan Hamilton, founder and managing partner of Backstage Capital; and more.
The selected cohorts will also receive small group coaching, inclusion in a private community of like-minded entrepreneurs, and quarterly pitch development workshops. Participants who complete the 12-month training will qualify to present for a $5,000 grant at the culmination of the program.
Application for enrollment is open now through Dec. 1 and the Get Ready Venture Program will begin Jan. 1.
For more information on the Get Ready Venture program or to apply, visit www.fearless.fund.