This month we celebrate the bold, the ﬁerce, the beautiful women who have made history and continue to make an impact in our lives every day.
Being a woman means being able to be powerful and assertive, yet kind at the same time. It means being compassionate and vulnerable towards those we love without feeling weak for doing so.
It means striving for our goals even in the face of the hardship we may face along the way.
FAMU Foundation invests in $25M fearless fund venture capital firm to support women of color
The University’s investment will support the Fearless Fund’s mission to address the disparity that exists in venture capital funding for women of color-led businesses.
TALLAHASSEE, Fla. – Florida A&M University Foundation today announces its investment in the $25 million Fearless Fund, the ﬁrst venture capital (VC) fund built by women of color, for women of color, and led by two FAMU alumnae, Arian Simone and Ayana Parsons.
“This marks an historic moment in the history of the FAMU Foundation, which has an investment value of $142 million and endowment value of $106 million. We are charged with investing in and for the future of our great institution. We expect this investment to pay dividends for generations to come,” said Shawnta Friday-Stroud, Ph.D., vice president University Advancement and executive director of the FAMU Foundation.
The investment marks FAMU’s ﬁrst in a Black-led VC ﬁrm and will be utilized by the Fearless Fund to grow its everexpanding portfolio of women of colorled businesses seeking pre-seed, seed level or series A ﬁnancing. With this announcement, the University joins other major businesses who recently invested in Fearless Fund, including Paypal, Bank of America, Invest Atlanta, and Costco.
“This investment from Florida A&M University is an exciting addition to our fund and furthers our mission to bridge the gap in VC funding for female founders of color,” said Arian Simone, general partner and co-founder of the Fearless Fund. Simone and Parsons were members of the incoming class of 1999. “As an alumnus of Florida A&M University, having them invest in what we are building with the Fearless Fund means all the more to me,” Simone added.
The Fearless Fund’s portfolio founders and companies include: Roshawnna Novellus of EnrichHER, Alicia Scott of Range Beauty, Angel Lenise, Montre Moore, and Phyllicia Phillips, J.D. of AMP Beauty, Tracey Pickett of HairBrella, Angela Benton of Streamlytics, and Sheena Allen of Capway. The fund has a goal to invest in over 40 WOC-founded startups in the tech, CPG, beauty and fashion industries. For more information on Fearless Fund, please visit www.fearless.fund