Fearless Fund is the first venture capital fund built by women of color, for women of color. The firm invests in women-of-color-led businesses seeking pre-seed, seed level, or series A financing with a mission to bridge the gap in venture capital funding for founders building scalable, growth-aggressive companies. The fund understands that companies with a female founder perform 63% better on average than all-male founding teams. However, women – and particularly women of color – are historically underfunded, despite a greater potential to produce higher returns.
At the helm of Fearless Fund is Arian Simone, President and CEO. She is a serial entrepreneur, philanthropist, angel investor, author, and public relations and marketing specialist. She and Fearless Fund have recently announced a new industry-specific supporter of the Get Venture Ready (GVR) Program in partnership with JPMorgan Chase.
The program is designed exclusively for Black women business owners in the financial-, technology-, or workforce development industries, with some being veteran or veteran spouses, and provides them with the fundamental training, mentorship, knowledge, and skills to gain access to capital.
Participants in the 12-week extensive program get the chance to pitch their business for one of three grants totaling $30,000 at the end. The grants are part of the Fearless Fund and JPMorgan Chase's dedication to empowering women-of-color entrepreneurs and supporting the growth of their businesses.
"We are proud to partner with JPMorgan Chase to provide these entrepreneurs with the necessary tools and resources to build scalable, sustainable companies that will drive economic growth and break down systemic barriers that have historically prevented women-of-color entrepreneurs from accessing capital,” said Simone in a statement.
The GVR program has already provided resources and training to more than 1,000 women-of-color entrepreneurs over the past three years. In 2021, the Fearless Foundation launched the inaugural GVR Program, featuring a wider curriculum, and in 2022, it introduced a more thorough program with personalized coaching opportunities. The Fearless Fund team also runs The Fearless Foundation, a 501(c)3 organization with a goal to educate entrepreneurs through training, reduce racial inequities, and empower Black business owners to gain access to capital.