Here’s what the Fearless Fund lawsuit could mean for venture

The first official piece of policy around diversity efforts in venture capital may soon see the light of day, but not because of any action by the government.
In a complaint filed this week, the American Alliance for Equal Rights — founded by conservative activist Edward Blum, the man driving the effort to end affirmative action — sued a minority-focused venture capital fund for unlawful racial discrimination.
In the complaint, the organization accuses Fearless Fund (an early-stage venture capital firm based in Atlanta that focuses on funding solely to women founders of color) of racially disc

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