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Jan 3, 07:21 PM
Nisha Desai of Andav Capital Sues PayPal Over $535 Million Program's Alleged Racial Bias
VC
Law
Business

Nisha Desai of Andav Capital Sues PayPal Over $535 Million Program's Alleged Racial Bias

Authors
  • TechCrunch
  • New York Post
  • Yahoo Finance
14

Nisha Desai, an Asian American businesswoman and founder of Andav Capital, has filed a lawsuit against PayPal, alleging racial discrimination in the company's $535 million investment program announced in June 2020. The program was designed to support Black and minority-owned businesses but allegedly excluded Asian Americans. Desai claims she was denied funding after spending over a month seeking investment, while PayPal invested $100 million in 19 venture capital firms led by Black and Hispanic managers. The lawsuit, filed in Manhattan federal court, accuses PayPal of violating the Civil Rights Act of 1866 and New York state and city human rights laws by restricting funding based on race. Desai seeks unspecified damages and an injunction to prevent PayPal from considering race and ethnicity in its investment decisions.

Written with ChatGPT .

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