>> WELCOME BACK TO CHED-HER
BROUGHT TO YOU BY JP MORGAN
CHASE THE BANK THAT ADVANCES
WOMEN EVERYWHERE. WELL START
UPS LED BY BLACK AND LATIN X
WOMEN ATTRACT
LESS CASH, IT'LL IN THE EARLY
DAYS OF THE COMPANY, ACCORDING
RESEARCH OUR NEXT GUEST IS ON
IT MISSION TO CHANGE
THIS STATUS QUO AND BRIDGE THE
GAP IN VENTURE CAPITAL FUNDING
FOR WOMEN OF COLOR JOINING US
NOW IS AIRY AND
SIMONE CO-FOUNDER OF THE
FEARLESS FUND SO GREAT TO HAVE
YOU ON THIS MORNING TELL US A
BIT ABOUT
THIS STUFF.
>> HENRI BEHIND THE FEARLESS
FUN, WHY DID YOU LAUNCH IT WHAT
WAS MISSING.
>> THANK YOU SO MUCH FOR HAVING
MARION ONE OF THE GENERAL
PARTNERS AND CO-FOUNDERS AT THE
FEARLESS FUN AND WE GOT INTO
THIS SPACE TO
HELP SOLVE IT WAS ALL A LOT OF
THE RACIAL DISPARITIES THAT
EXIST IN THE VENTURE CAPITAL
INDUSTRY CURRENTLY RIGHT NOW
BLACK WOMEN RECEIVE 0, 0, 0,
6%, OF VENTURE FUNDS AND WOMEN
OF COLOR AND OR PERCENT AS
A WHOLE. WE ARE A SPINNERS TURN
INVESTOR'S SO THIS MISSION FOR
US IS VERY PERSONAL. I WAS A
COLLEGE STUDENT
AT FLORIDA UNIVERSITY AND AT
THE AGE OF 20 TO 21 HAS STARTED
RAISING CAPITAL FROM OUR
MALL-BASED
RETAIL STORE DURING THAT TIME I
REALIZED THERE WAS NOBODY TO
PAYCHECK CROSS FROM WHO LOOKED
LIKE ME AND I MADE A PROMISE TO
MYSELF OR RAISE COUPLE 100,000
HAVE TO OPEN THAT OPENS STORE
BUT RIGHT BEFORE THE GRAND
OPENING SITTING ON THE FLOOR, I
SAID AREA DOES SHE EVEN WORRY
BECAUSE ONE DAY YOU WILL BE THE
BUSINESS INVESTOR THAT YOU ARE
LOOKING FOR
AND I'M PROUD TO SAY THAT THAT
DAY IS TODAY AND THE
MANIFESTATION OF THAT WE WALK
IN OPERATING HIS BUSINESS.
SO THAT I GUESS YOU WOULD SAY
IS THE STORY BEHIND IT THE
FEARLESS PLATFORM HAS EXISTED
FOR QUITE SOME TIME PRIOR TO
BECOMING A VENTURE CAPITAL FUND
EDUCATING WOMEN OF COLOR.
IN THAT ARE YOU KNOW AND IN THE
SPACE OF JUST AS THEIR
EDUCATION.
>> THE FEARLESS FUND ALSO
MATCHES EACH FOUNDER AND ITS
PORTFOLIO WITH A MENTOR WHICH
IS SO GREAT COMMUTE ALSO A BIT
ABOUT THE DECISION TO
DO THIS. AND HOW DOES IT HELP
EVERYONE REACH THEIR GOALS.
>> THE DECISION TO DO THIS
COMES ABOUT TO I WOULD SAY DUE
TO THE LACK OF NOT JUST ACCESS
TO CAPITAL AND OUR COMMUNITY.
THERE'S ALSO A LACK OF ACT SAYS
TO RESOURCES. THERE'S LACK OF
ACCESS EDUCATION AND LACK OF
ACCESS TO THE NET. IT WAS GIVEN
THE NETWORK AT ALL. SO WE HAVE
TO MAKE SURE THAT PEOPLE
ARE SUPPLY. EXCUSE ME 3.60, BUT
WITH THAT BEING SAID WE PAIR UP
EVERY FOUNDER WITH THE
CORPORATION. WHAT THIS DOES FOR
US AND THE RELATIONSHIP AS A
WHOLE. THE CORPORATION IS
LOOKING FOR A POTENTIAL
ACQUISITION. THE FOUNDERS
LOOKING FOR THAT EXPERTISE OF C
SUITE LEVEL ADVICE.
AND THEN WE AS THE INVESTORS
ARE LOOKING FOR AN EXIT SO IT'S
A 3.60 RELATIONSHIP THAT'S
HEALTHY. ALL RIGHT.
>> WE KNOW THAT BLACK
WOMEN AND SEVERELY
UNDERREPRESENTED IN THE VC THE
SEA SPACE. HOW DO WE FURTHER
SUPPORT
THESE FOUNDERS. AND FIX THE
SYSTEMIC ISSUES AND I'M GLAD
YOU GOT
SOME WATER.
>> DURING THESE INTERVIEWS I
THINK BY
THE WAY.
>> THAT HAPPENS TO ME AT LEAST
ONCE A MORNING SO I GET IT WAS
SO SWEET.
YEAH, IT'S IMPORTANT HONESTLY
FOR AS MANY CORPORATIONS TO
JOIN THIS FIGHT IN ORDER
>> WELL THE NAIL ON THE
0, 0, 0, 6%. THERE NEEDS TO BE
AS MUCH HELP AS POSSIBLE IN
THIS ECOSYSTEM LIKE I SAID
THERE'S A LACK OF ACCESS TO
NETWORK CAPITAL. AND EVEN
RESOURCES. SO YES, IT'S
DEFINITELY IMPORTANT FOR AS
MANY PEOPLE TO
STEP UP EVERY PLAN ON MAKING
HISTORY AND MAKING SOMETHING
THAT CHANGES, YOU KNOW A LOT OF
PEOPLE HAVE SOCIAL MEDIA
ANNOUNCEMENT. THEY MAY POSE
DIFFERENT THINGS BUT LIKE YOU
SAID THIS ISSUE A SYSTEMIC AND
IN ORDER TO SOLVE ANY SYSTEM
ISSUES WE NEED TO HAVE
STRUCTURAL CHANGE.
>> I KNOW SO MANY COMPANIES
COME OUT WITH STATEMENTS SAYING
THAT THEY SUPPORT MINORITY
COMMUNITIES. AS YOU SAY ON
SOCIAL MEDIA, BUT IT'S IT'S
HARD TO BEAT AND DOUBLE ACTION.
WHAT DO YOU THINK
THAT CORPORATE RUSSIANS NEED TO
DO TO HELP UNDERREPRESENTED
ENTREPRENEURS AND FOUNDERS.
>> THAT IS CORRECT THERE ARE
MANY OF STATEMENTS OUT THERE I
AM DEFINITELY DELIGHTED AND
PROUD TO SAY I AM SEEING A LOT
OF PROGRESS IN SPACE RIGHT NOW.
SO THAT DOES MAKE ME
FEEL GOOD BUT THE THINGS THEY
NEED TO DO TO STEP UP ITS MORE
THAN JUST I GUESS YOU'D SAY THE
SPACE THAT I'M WORKING WE TALK
ABOUT DIVERSITY EQUITY AND
INCLUSION FROM A CORPORATE
STANDPOINT, IT'S GOING TO HAVE
TO HAVE TO HAPPEN FROM
THE TOP DOWN DIVERS LEADERSHIP
HAS TO TAKE WHO THEY EMPLOY
INTERNALLY THERE C
SUITE LEVEL. EMPLOYEES WE NEED
TO SEE DIVERSITY THERE WHEN IT
COMES TO WHO THEY USE
THE SUPPLIERS WE NEED TO SEE
DIVERSITY THERE IS WELL SAID
WHEN IT COMES TO THEIR
MARKETING DOLLARS IN THE
REPRESENTATION WE NEED TO SEE
DIVERSITY THERE TOO WHEN IT
COMES TO THE CONTRACT THAT THEY
DISTRIBUTE WE NEED TO SEE
DIVERSITY THERE AS WELL TOO.
AND IN ADDITION TO IF THEY HAVE
A VENTURE ARM OR THEIR
ALLOCATED CAPITAL IN THE AREA
OF ECK 40'S THAT IS WHAT WE
DO HERE. WE NEED TO SEE
DIVERSITY. THERE IS WELL TOO SO
THERE'S NO SUCH THING AS
DIVERSITY BUT IT'S NOT
INCLUSIVE UNLESS IT'S ALL