Mompreneurs: Ayana Parsons Champions Black Businesses

Source: Ayana Parsons

Ayana Parsons is the co-founder of the Fearless Fund, the first venture capital firm for women of color, created by women of color. The inclusive capitalist, who left corporate America to pursue a higher calling, has dedicated her career to investing in Black women and women of color. The business leader and mother of two joined host Nancy Redd for this week’s episode of Mompreneurs to reflect on her journey into venture capital and helping others build generational wealth.

Parsons’ skill for business and entrepreneurship was clear early on.

Parsons followed her passion for business to Florida A&M University, where she earned her MBA. “I saw so much brilliance and incredible diversity of Black people at FAMU, and that’s really what sparked my passion for business,” she said.

After a series of “failure-to-launch opportunities,” Parsons and her husband launched Yardstick Management, a company that laid the groundwork for the Fearless Fund later on. “What Yardstick Management was about was changing the game for marginalized people and those who had been historically disadvantaged like us, but doing it in a professional business setting through the context of management consulting,” said Parsons. “Truly, Yardstick was about disrupting a space that needed to be disrupted. And that’s the same thing that Fearless Fund was about.”

So far, the Fearless Fund has invested $30 million into more than 40 startups led by women of color.

The Fearless Fund has helped launch the success of dozens of women like Melissa Butler, founder of The Lip Bar, and Pinky Cole of Slutty Vegan. “I get a lot of reward from seeing these women thrive,” said Parsons.

The Hot Springs, Arkansas native describes herself as an “accidental venture capitalist.” Despite building a career in the corporate world at major Fortune 500 companies, Parsons didn’t see a future in venture capital at first. “What I quickly realized was that we were very much the exact people that needed to disrupt the industry,” she said. “Venture capital was nothing more than a people business. I’ve built my career on helping people and investing in leaders, founders, and CEOs.”

With over a decade of building her expertise in corporate spaces, Parsons was able to apply that knowledge to the Fearless Fund. She does more than write checks—she works alongside each founder to help the business succeed. “That has been the most rewarding part of this work—being in the trenches working with these founders,” she said.

While Parsons stepped down from the Fearless Fund last summer, she is excited for what lies ahead. Parsons left the organization amidst a legal battle that challenged the fund’s grant program for Black women-owned businesses. While Parsons couldn’t share much about her next endeavor just yet, there’s more to come from this inspiring mompreneur. “If the courts are going to sideline our best practices, we need to design and implement alternatives. We must innovate,” she said in a statement.

RELATED CONTENT: Fearless Fund Ends Grant Program For Black Women After Settlement With Conservative Group, CEO Arian Simone Says It’s A ‘Win’

‘These opportunities are out there.’

Parsons has witnessed firsthand the funding opportunities that are available to small businesses. “These opportunities are out there. This is why as an entrepreneur, as much as you are focused on the day-to-day of running your business, you’ve also got to be focused on finding the money that’s going to enable you to grow,” she advised. “There are so many accelerator programs and incubators for small businesses that help you learn about grant opportunities … Sometimes it really is as simple as Googling: where can I find grants in my local area?”

‘Imagine if we had more Black women who were wealthy.’

Parsons operates on the foundation of knowing the undeniable importance of generational wealth. “(Generational wealth) affords us the ability to start to solve some of these collective challenges that we have as a community,” she said. “There are so many disparities when it comes to access to health care, access to education, to opportunity, housing, all of these things. Imagine if we had more Black women who were wealthy, that could really lean in to helping to solve some of these problems.”

Don’t miss out on the full conversation. Watch or listen to this episode of Mompreneurs featuring Ayana Parsons above.

Catch new episodes of ‘Mompreneurs’ every week.

Every week, we celebrate beautiful Black entrepreneurs who are simultaneously amazing business moguls and awesome moms. Join host and New York Times bestselling author Nancy Redd as these mompreneurs share their life stories and inspiring advice. Catch new episodes of Mompreneurs every Monday on MadameNoire’s YouTube channel. Or listen to the podcast online on the Urban One Podcast Network.

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