Supply: Ayana Parsons
Ayana Parsons is the co-founder of the Fearless Fund, the primary enterprise capital agency for girls of shade, created by girls of shade. The inclusive capitalist, who left company America to pursue a better calling, has devoted her profession to investing in Black girls and girls of shade. The enterprise chief and mom of two joined host Nancy Redd for this week’s episode of Mompreneurs to replicate on her journey into enterprise capital and serving to others construct generational wealth.
Parsons’ ability for enterprise and entrepreneurship was clear early on.
Parsons adopted her ardour for enterprise to Florida A&M College, the place she earned her MBA. “I noticed a lot brilliance and unbelievable variety of Black folks at FAMU, and that’s actually what sparked my ardour for enterprise,” she stated.
After a collection of “failure-to-launch alternatives,” Parsons and her husband launched Yardstick Administration, an organization that laid the groundwork for the Fearless Fund in a while. “What Yardstick Administration was about was altering the sport for marginalized folks and those that had been traditionally deprived like us, however doing it in an expert enterprise setting via the context of administration consulting,” stated Parsons. “Actually, Yardstick was about disrupting an area that wanted to be disrupted. And that’s the identical factor that Fearless Fund was about.”
Up to now, the Fearless Fund has invested $30 million into greater than 40 startups led by girls of shade.
The Fearless Fund has helped launch the success of dozens of girls like Melissa Butler, founding father of The Lip Bar, and Pinky Cole of Slutty Vegan. “I get plenty of reward from seeing these girls thrive,” stated Parsons.
The Scorching Springs, Arkansas native describes herself as an “unintentional enterprise capitalist.” Regardless of constructing a profession within the company world at main Fortune 500 firms, Parsons didn’t see a future in enterprise capital at first. “What I shortly realized was that we had been very a lot the precise those who wanted to disrupt the business,” she stated. “Enterprise capital was nothing greater than a folks enterprise. I’ve constructed my profession on serving to folks and investing in leaders, founders, and CEOs.”
With over a decade of constructing her experience in company areas, Parsons was capable of apply that data to the Fearless Fund. She does greater than write checks—she works alongside every founder to assist the enterprise succeed. “That has been probably the most rewarding a part of this work—being within the trenches working with these founders,” she stated.
Whereas Parsons stepped down from the Fearless Fund final summer season, she is worked up for what lies forward. Parsons left the group amidst a authorized battle that challenged the fund’s grant program for Black women-owned companies. Whereas Parsons couldn’t share a lot about her subsequent endeavor simply but, there’s extra to return from this inspiring mompreneur. “If the courts are going to sideline our greatest practices, we have to design and implement options. We should innovate,” she stated in a press release.
RELATED CONTENT: Fearless Fund Ends Grant Program For Black Ladies After Settlement With Conservative Group, CEO Arian Simone Says It’s A ‘Win’
‘These alternatives are on the market.’
Parsons has witnessed firsthand the funding alternatives which are obtainable to small companies. “These alternatives are on the market. Because of this as an entrepreneur, as a lot as you might be targeted on the day-to-day of operating your small business, you’ve additionally obtained to be targeted on discovering the cash that’s going to allow you to develop,” she suggested. “There are such a lot of accelerator applications and incubators for small companies that enable you to find out about grant alternatives … Typically it actually is so simple as Googling: the place can I discover grants in my native space?”
‘Think about if we had extra Black girls who had been rich.’
Parsons operates on the inspiration of realizing the plain significance of generational wealth. “(Generational wealth) affords us the flexibility to begin to resolve a few of these collective challenges that we now have as a group,” she stated. “There are such a lot of disparities with regards to entry to well being care, entry to schooling, to alternative, housing, all of these items. Think about if we had extra Black girls who had been rich, that would actually lean in to serving to to unravel a few of these issues.”
Don’t miss out on the total dialog. Watch this episode of Mompreneurs that includes Ayana Parsons above.
Catch new episodes of ‘Mompreneurs’ each week.
Each week, we have a good time lovely Black entrepreneurs who’re concurrently superb enterprise moguls and superior mothers. Be a part of host and New York Occasions bestselling creator Nancy Redd as these mompreneurs share their life tales and galvanizing recommendation. Catch new episodes of Mompreneurs each Monday on MadameNoire’s YouTube channel. Or hearken to the podcast on-line on the City One Podcast Community.
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