Arian Simone Announces Lawsuit Against the Fearless Fund to Be Dismissed, Pledges Continued Commitment to Under-Resourced Entrepreneurs
ATLANTA – Arian Simone, CEO and Founding Partner of the Fearless Fund and Founder of the Fearless Foundation, today announced that the American Alliance for Equal Rights’ (AAER) lawsuit filed against the organization has been settled and the parties agreed to dismiss the case. The Fearless Fund and the Fearless Foundation are pleased to end the case and continue to focus on helping under-resourced entrepreneurs who have been ill served by traditional capital markets for far too long.
“From the moment the lawsuit was filed, I pledged to stand firm in helping and empowering women of color entrepreneurs in need. I stand by that pledge today and in fact my commitment remains stronger than ever. Our overarching mission remains focused on helping and empowering entrepreneurs who have been historically overlooked in the venture capital marketplace. The Fearless Fund and Fearless Foundation will continue to be a vital resource to ensure everyone has a fair shot at the American Dream.”
Fearless Fund and Fearless Foundation will continue their active work to empower the communities they serve. Today, Fearless Fund announced a new $200 million debt fund with the goal of lending to more than 3,000 entrepreneurs. The cutting-edge fund will offer loans between $5,000 to $250,000 to under-resourced founders who have been in business for more than one year, have a credit score of at least 600, and demonstrate $50,000 in annual revenue.