CAPITAL

Where Beauty Brand Founders Think DEI Initiatives Stand Today In The Wake Of The Lawsuit Against Fearless Fund

Fearless Fund, the Black women-owned venture capital firm backing early-stage businesses owned by women of color, including the beauty and …
Taylor Bryant·February 20, 2024·1 min read
The 30-second read
Fearless Fund, the Black women-owned venture capital firm backing early-stage businesses owned by women of color, including the beauty and wellness brands  Brown Girl Jane, Oui The People, Hairbrella, Kushae, Live Tinted and Beauty Bread Supply, was indefinitely barred from deploying a program last year that doles out $20,000 grants to Black female entrepreneurs. American Alliance for Equal Rights, a nonprofit headed by Edward Blum, the legal strategist behind the United States Supreme Court case that dismantled affirmative action in college admissions, sued the program claiming that it discriminates against people of other races.

In January, Fearless Fund filed an appeal to reinstate the grant. The case is still pending—and it’s just one example of the scrutiny diversity, equity and inclusion programs are encountering today. To get a temperature check on how founders are feeling about DEI, for the latest edition of our ongoing series posing questions relevant to indie beauty, we decided to ask 20 of them the following question: How do you think the lawsuit against Fearless Fund will impact the industry and specifically DEI efforts?

The players

3 mentioned
Brand

AS Beauty

Founded2019
HQNew York, New York, United States
Revenue Range$150M+
Brand

Live Tinted

Primary CategoryMakeup
Top Channels / Retailers
Ulta Beauty
Recognition
2022 Beacon Awards Nominee
Investor

The Fearless Fund

TypeVenture Capital ($0.5-20M)