"Landmark Decision: US Judge Upholds Venture Capital Fund's Grants for Black Women"

A federal judge in Atlanta has rejected a request by anti-affirmative action activist Edward Blum to block a venture capital fund, Fearless Fund, from awarding grants exclusively to businesses led by Black women. Blum's group, American Alliance for Equal Rights, had sought a preliminary injunction against the fund's "racially exclusive program." The judge denied the request and will issue a written decision later. Blum plans to pursue an emergency appeal. Fearless Fund aims to address the underrepresentation of Black women in venture capital funding and has invested nearly $27 million in 40 businesses led by minority women since its founding in 2019. Blum's lawsuit alleges that the fund's grant program illegally excludes applicants of other races.