NEW YORK – One of the cofounders of a venture capital firm in Atlanta that supports women of colour has stepped down from her position as chief operating officer. The company is battling a lawsuit that has come to symbolize a conservative backlash towards 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.