venture capital firm salary in atlanta ga

It’s important for us to close that gap.” “In 2022, $288 billion dollars were made by women of color through their businesses, however, less than half of 1 percent is received back. “ are the most founded but least funded,” Parsons, Fearless Fund’s COO, told Atlanta.

Since 2007, the number of companies owned by Black women has shot up 164 percent. A 2021 Harvard Business Review study found 17 percent of Black women reported starting or running a business, compared to 15 percent of white men and 10 percent of white women. It’s not for lack of momentum: these figures endure even as Black women are opening new businesses at a rate faster than any other demographic. Black women earn just 0.34 percent of investment capital. According to Crunchbase, companies founded by women are awarded just 2 percent of the billions of dollars of venture capital that flow through the American economy each year Black founders get a paltry 1.2 percent. Despite growing diversity in boardrooms and C-suites, investment dollars still skew heavily toward white male founders.

Simone and Parsons are entrepreneurs themselves who saw firsthand the lack of investment capital offered to Black women-owned businesses. Now, he’s taking his fight against what he calls “race preference” to a new frontier: corporate America. Supreme Court case overturning race-conscious college admissions policies, known as affirmative action. On August 2, the American Alliance for Equal Rights filed a complaint against Fearless Fund, claiming its Fearless Strivers Grant Contest-which offers grants to Black women-owned businesses-is a “racially-discriminatory program” that violates the law’s “guarantee of race neutrality.” American Alliance for Equal Rights is led by Edward Blum, the legal activist who recently won a controversial U.S. But now, the firm is being sued by a conservative legal activist who says their targeted support of Black women entrepreneurs is against the law. Fearless Fund, which is based in Atlanta, has invested over $30 million into businesses led by women of color.

That discrepancy was part of what motivated Arian Simone and Ayana Parsons to launch Fearless Fund in 2019, an early-stage venture capital firm that specifically supports women entrepreneurs of color.

Venture capital firm salary in atlanta ga