By Julian Mark and Taylor Telford | Washington Post
A panel on the U.S. Court of Appeals for the 11th Circuit ruled Monday that an Atlanta-based venture capital firm should be temporarily blocked from issuing grants reserved for Black women-owned businesses, saying that doing so would likely discriminate against business owners of other races.
The ruling comes after the Fearless Fund, a VC firm dedicated to funding businesses founded by women of color, was sued last August by a group led by affirmative action opponent Edward Blum. Blum’s cases against Harvard and the University of North Carolina culminated with the Supreme Court overturning race-conscious college admissions last summer.
The federal appeals court in Atlanta reversed a lower court decision that the fund could proceed with its grant contest amid the litigation.
Read more at: Washington Post
