Hi, I'm Ali Jackson Jolly. I'm here with Alfonso David. He is the co-lead of the, for the Fearless Fund.

He is also the president and CEO for the Global Black Economic Forum.

Alfonso, welcome.

Thanks for being here with us.

Thank you.

Thank you so much for having me.

Yeah, so for those who don't know, and frankly, most people who follow venture capital funding or those who follow black wealth builders and creators are familiar with the Fearless

fund which is the firm whose mission is to create access to venture capital funding for black women founders who have been historically

underrepresented.

But soon after the Supreme Court struck down affirmative action.

The Fearless Fund was brought to court

by the American Alliance for Equal Rights

who charged the Fearless Fund with bias.

The Fearless Fund has really become a rallying call

for many black women and black business wealth builders for the need to continue to push for equity.

But earlier this week, the Fearless Fund settled that lawsuit. So just first, can you describe

to this audience what that specifically meant and why that happened?

Sure. So a few things. You are correct, The Fearless Fund was created to address disturbing

disparity that exists in the venture capital space. Many people may not know this, but

there's $288 dollars that is allocated every year in the venture capital space and less than 1% goes to black people less than 0.036 goes to black women.

So the Fearless Fund was really created

to attempt to address that disparity.

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