Fearless Fund, the Atlanta-based venture capital firm dedicated to closing the funding gap for women of color entrepreneurs, has taken its mission global with the launch of a microfinance fund in Ghana.
Announced on February 6, 2026, this marks the fund’s first major expansion into Africa, targeting women-led micro and small businesses in one of West Africa’s most dynamic economies.
The Ghana Microfinance Fund will provide low-interest loans, grants, and wraparound support including mentorship, financial literacy training, and market access connections.
Initial focus areas include agriculture, retail, fashion, beauty, food processing, and digital services—sectors where women are major players but often face barriers to formal credit. Fearless Fund CEO Arian Simone described the move as a “natural extension” of the firm’s work:
“Ghana represents untapped potential. We’re empowering women who are already building resilient businesses against the odds.”
The expansion comes at a pivotal time for Fearless Fund, which has faced high-profile legal challenges in the U.S. In 2023, the fund was sued by conservative activist Edward Blum’s American Alliance for Equal Rights, who argued that its $20,000 grant program exclusively for Black women entrepreneurs violated anti-discrimination laws under Section 1981 of the Civil Rights Act.
A U.S. appeals court issued a preliminary injunction blocking the program in June 2023, citing likely success for the plaintiffs.
The case, part of a broader backlash against diversity, equity, and inclusion (DEI) initiatives following the Supreme Court’s 2023 affirmative action ruling, has drawn national attention and support from figures like Simone, who vows to continue fighting for underrepresented founders.
Despite the domestic hurdles, Fearless Fund remains committed to its core mission. Founded in 2019 by Simone and partners Keshia Knight Pulliam and Arianne McQuain, the firm has invested over $26 million in 40+ companies led by women of color. The Ghana launch partners with local microfinance institutions and women’s cooperatives to ensure grassroots impact, particularly in rural areas.
The move to expand to Africa also highlights growing U.S.-Africa business ties, especially in fintech and women’s empowerment.
It also offers a pathway for diaspora investors to support African ventures, aligning with initiatives like Ghana’s “Beyond the Return” program.
Simone added: “This isn’t just about capital—it’s about building ecosystems where women thrive.” Applications for the fund open in Q2 2026.
