GRAND RAPIDS – New Community Transformation Fund (NCTF), a statewide venture capital fund based in Grand Rapids, announced today the first close of its new $20 million Fund II. The public-private fund includes an investment of up to $9.8 million from the Michigan Economic Development Corporation’s Small Business Venture Program. The state investment requires NCTF to raise
GRAND RAPIDS – New Community Transformation Fund and Michigan Capital Network, two Grand Rapids based venture capital investment organizations, announced a new affiliation agreement intended to accelerate momentum in the early and mid-stage investment sector for business owners and entrepreneurs of color in West Michigan. Under this agreement, both organizations will remain as stand-alone entities
GRAND RAPIDS – New Community Transformation Fund, a Grand Rapids-based venture fund aimed at boosting businesses owned by people of color in West Michigan, announced it has received a $500,000 investment from Novi-based ITC Holdings Corp., the nation’s largest independent electricity transmission company. With the investment, NCTF has raised $11.75m since its inception in 2020.
