Fearless Fund is launching a microfinance fund in Ghana.

Fearless Fund is an Atlanta-based venture capital firm for women of color, backed by Bank of America, JPMorgan Chase, PayPal and Costco, and led by founding partner and CEO Arian Simone. As AFROTECH™ previously reported, it had been targeted with a lawsuit in 2023 regarding its mission to fund women of color entrepreneurs. The lawsuit, which was settled in 2024, was brought by legal activist Edward Blum and his organization, American Alliance for Equal Rights. It challenged a US $20,000 grant program for Black women-owned businesses that Fearless Fund operated in partnership with JPMorgan Chase & Co. and Mastercard, according to the outlet.

Mission Extends To Ghana

The outcome was seen as a victory for Fearless Fund because the case avoided escalation to the U.S. Supreme Court, which could have had consequences for Black founders seeking funding, Simone told AFROTECH™ at the time.

A year after its settlement, Fearless Fund presented the world with its new plan: the Fearless Global Initiative. As AFROTECH™ previously shared, the initiative expands on the firm’s mission of advancing economic inclusion and advocating globally for Fearless Freedom. Fearless Fund has continued its efforts to support diverse founders, including launching a microfinance fund in Ghana on March 21 and a pitch competition that will award GHS 100,000 to women entrepreneurs in the country, according to information shared with AFROTECH™.

.“Expanding our mission to Africa has always been central to closing the global wealth gap,” Simone said in a press release. “Africa represents one of the world’s most dynamic economic frontiers, powered by a booming youth population and relentless innovation. Our presence in Ghana ensures founders have the critical access to capital needed to build and scale. Fearless Fund is a beacon of what’s possible when women of color lead with vision and power.”

The launch of the microfinance fund will provide small, high-impact loans ranging from GHS 10,000 to GHS 30,000, along with financial services designed to help business owners generate revenue and scale, according to the press release.

Fearless Fund said it will report data on job creation, revenue, the number of women financed, regional distribution, and digital inclusion and support for first-time borrowers, per the release.

Looking ahead, Simone said more African countries will be added, noting on Instagram that she believes the continent “is the future.”

Fearless Fund’s recent efforts build on its impact of providing more than US $5 million in non-dilutive grants to women of color founders nationwide and globally, a US $240 million loan program supporting under-resourced founders, and the raising of two eight-figure venture funds, the press release noted.