NEW YORK, NY (AP) – One of the cofounders of a venture capital firm in Atlanta that supports women of colour has resigned as chief operating officer. The company is battling a lawsuit that has been dubbed a conservative reaction to corporate diversity programs.

Ayana Parsons confirmed that she had resigned as general partner and chief operational officer of the Fearless Fund. She co-founded the fund in 2019 with Arian Simine to address the wide disparity in funding of businesses owned by women of colour.

Parsons said that her decision had nothing to do with a conservative group’s suit against a grant program run by Fearless Fund’s Foundation arm for Black women entrepreneurs. Parsons, as co-founder of the Fearless Fund, remains an investor.