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Fearless Fund has made a big move since it settled a lawsuit with the American Alliance for Equal Rights ( AAER ) .
The house announced on Thursday a seven - form investment into the e - Commerce Department political program Zimi , co - founded by Audrey Djiya and Peter Nsaka . Zimi offers stocktaking management , handling and computer storage , and border logistics specifically to help line in emerging grocery , like Africa , betray to the residual of the world . The company officially launched in August and already has a few clients , accord to its website .
Fearless Fund ’s chief operating officer and carbon monoxide gas - father Arian Simone declined to let out the accurate investment figure . This marks back - to - normal for the business firm , which is investing out of its second fund and which received a multi - million - dollar sign follow - on investment last summertime , TechCrunch previously report .
The investment news show comes just weeks after Fearless Fund settled a lawsuit filed against it by the AAER . The AAER claimed that a grant that Fearless Fund create for Black women entrepreneurs discriminated against non - fateful founding father . Fearless Fundspent a year fightingthe lawsuit , resulting in a preliminary enjoining being maintain against the grant program . One of the firm ’s co - founders , Ayana Parsons , step downfrom her leadership role during this time . Last month , Fearless Fund and AAER come to a settlement agreement that would see to the end of the grant program , ensuring that the case did n’t make its way to trial and causing a domino effect that could bear upon other grant programs that service marginalize laminitis .
Simone say the firm has been doing well since the liquidation and is “ invest in company and continue our charge of funding entrepreneurs . ”
She added that the business firm has completed “ multiple investments this year and is actively diligencing legion chance . ” It lately announced a $ 200 million debt fund in partnership with a CDFI to offer loans between $ 5,000 and $ 250,000 to overlooked founders . She say that Fearless Fund remains focused on its commission to support cleaning woman of color laminitis and is look to back more fintech , knockout , and companionship working in logistics . The sight with Zimi close in late September .
Zimi ’s CEO Djiya told us that the party is still in the process of provoke its one shot , which is expected to close soon . The company took part in this yr ’s leap Y Combinator cohort and , like all YC grad , received investment from YC as well . Djiya said that Fearless Fund reached out to Zimi about an investment funds and that the caller decided to work Fearless Fund on as its trail investor because Simone experienced at first hand the challenge Zimi is trying to fix and they consider that the best investors are those who sympathize the trouble a company is trying to lick .
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“ Further , Fearless ’ experience with working with consumer firebrand , who we ’re build up for , and international presence , will be helpful to Zimi in the long run , ” Djiya continued . “ We also really love the team . ”
The company plan to use the sweet working capital to hire more in operations and technology and grow the consumer stand , and plans to follow through more artificial intelligence .
