But since settling a lawsuit against the American Alliance for Equal Rights (AAER), much has been made about Fearless Fund.

On Thursday, the firm said that it's putting a seven-figure sum into e-commerce platform Zimi, founded by Audrey Djiya and Peter Nsaka. Zimi offers inventory management, handling and storage, and border logistics specifically to help businesses in emerging markets sell to the rest of the world. The company officially launched in August and so far has a few clients, its website states.

Fearless Fund CEO and co-founder Arian Simone declined to disclose the exact investment amount. This is back-to-normal for the firm, which is investing out of its second fund and which received a multi-million-dollar follow-on investment last summer, TechCrunch previously reported.

The news comes weeks after Fearless Fund settled a lawsuit filed by AAER against it. The AAER argues that the grant Fearless Fund established to finance Black women entrepreneurs discriminated against other founding members who are not Black. Fearless Fund battled the lawsuit for a year and won a preliminary injunction on the grant program. One of the firm's co-founders, Ayana Parsons, has since resigned from the company. Last month, Fearless Fund and AAER reached a settlement agreement that would result in the closure of the grant program. This way, the case would not go to trial, which could have a ripple effect, potentially resulting in the endangerment of other grant programs catering to the needs of underprivileged founders. The company has been doing quite well since the settlement, so we are just investing in companies and continuing our mission to fund entrepreneurs, says Simone.

She further added that the firm has successfully closed "multiple investments this year and is actively diligencing numerous opportunities." The firm recently announced an establishment of a $200 million debt fund with a CDFI to offer loans ranging from $5,000 to $250,000 for overlooked founders.

She says, Fearless Fund is squarely focused on its mission of supporting women of color founders and will back more fintech, beauty, and companies working in logistics, among other verticals. The Zimi deal closed in late September. Zimi's CEO Djiya confirmed to us that the company is still in the process of raising its round, and it too will close soon. The company will join this spring Y Combinator cohort, and out of all its graduates from YC, the company will receive investment from YC also.

Djiya claims that Fearless Fund had reached out to Zimi for an investment and the company decided to bring Fearless Fund as their lead investor because Simone suffered firsthand from the challenge that Zimi is trying to fix and they believe that the best investors are those who understand the problem that a company is trying to solve. Further, Zimi would benefit from Fearless' experience working with consumer brands, whom we are building for, and international presence, Djiya further said. "We also really love the team," he said. The company plans to use fresh capital to hire more people in operations and engineering as well as grow consumer base and implement more artificial intelligence.