June 26, 2023

Fearless Fund Secures Multi-Million Dollar Follow-On Investment

Fearless Fund has announced it has received multi-million dollar follow-on investments from Bank of America, Costco, and Mastercard.

Investing In WOC

Founded in 2019 by Arian SimoneKeshia Knight Pulliam, and Ayana Parsons, Fearless Fund invests in pre-seed, seed level, and series A women of color founders building scalable and growth-aggressive companies.

Their portfolio includes Bitsy’s, the clean food and beverage brand co-founded by Gabrielle Union, Melissa Butler’s cruelty-free beauty brand The Lip Bar, Pinky Cole’s Slutty Vegan, and Sevetri Wilson’s Resilia.

Read: Resilia Closes $35M Series B, Largest Raise Ever For A Solo Black Woman-Founded Tech Company

With the recent multi-million dollar follow-on investments from Bank of America, Costco, and Mastercard, Fearless Fund will be able to further expand its portfolio and provide adequate funding and mentorship opportunities.

“To receive follow-on investments from our previous investors proves that Bank of America, Costco, and Mastercard are not only dedicated to addressing the disparity that exists in venture capital funding for women of color-led businesses, but it shows their commitment, values, and understanding that investing in WOC founders is good business,” said Arian Simone, co-founder of the Fearless Fund.

Fearless’ Grant Contest And VC Summit

As well as financially investing in Fearless Fund, Mastercard will host the third annual Fearless Strivers Grant Contest which sees Black women-owned small businesses awarded $20,000 grants, Mastercard Digital Doors tools, and valuable mentorship opportunities.

For the second year in a row, Fearless Fund and Costco have also partnered to support this year’s Fearless VC Summit. Taking place in Atlanta, Georgia on Friday, August 18th, the annual summit brings together investors and entrepreneurs to foster connections and ignite opportunities for future success.

Samara Linton

Community Manager at POCIT | Co-editor of The Colour of Madness: Mental Health and Race in Technicolour (2022), and co-author of Diane Abbott: The Authorised Biography (2020)