New MI-based venture fund to invest in minority start-ups across the country
A Grand Rapids, MI-based venture capital fund that will invest nationally in start-up companies owned by minorities reports that it has secured commitments totaling $6.25 million with potentially millions more on the way.
According to this article, nearly $17 million in additional commitments are “in the final stages of the pipeline as well” for the New Community Transformation Fund LP, according to Managing Partner Skot Welch. Investments in the range of $250,000 to $500,000 are planned in start-ups in advanced manufacturing, food and agribusiness, e-commerce and information technology, life sciences, and finance technology.
