All For One: Over 70 Venture Funds Band Together, Sign Open Letter Denouncing Lawsuit Against Fearless Fund

(Forbes) The affirmative action debate has entered the venture capital building, with a bang. On August 2, 2023, the American Alliance for Equal Rights founded by the notorious conservative crusader Edward Blum, sued the Atlanta-based Fearless Fund, claiming the fund is operating a “racially discriminatory program” in violation of Section 1981 of the Civil Rights Act of 1866.

According to the Wall Street Journal, over the last 30 years, Blum has made it his mission to seek out plaintiffs and bring “reverse discrimination” legal cases, mostly in the higher education space, but also against diversity efforts in corporate America. Blum has said: “You cannot remedy past discrimination with new discrimination” and seeks to remove “racial preferences from American life”.

Read more here.

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