Solidarity in Action – Closing Racial Wealth & Opportunity Gap
Women of color are an entrepreneurial force, statistics show, but they receive less than 1% of venture capital. Arian Simone, a former PR powerhouse, closed her company in 2018 to bring more opportunities to fellow women of color by co-founding Fearless Fund, which invests in businesses seeking pre-seed, seed level or series A financing across industries. To help further access to funding for Black women, Mastercard made a capital investment in Fearless Fund. The investment will allow Fearless Fund to further expand their portfolio of women of color-founded and co-founded companies in the consumer packaged goods, food & beverage, beauty, fashion, and technology sectors. The social impact of the investment will also have a significant role in job creation and wealth distribution in underserved communities.
