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The New Community Transformation Fund (NCTF) is a venture capital fund based in Grand Rapids, Michigan, founded four years ago. It focuses on promoting economic prosperity in communities of color and aims to build a more diverse economy. NCTF invests in companies owned and operated by business leaders of color.
NCTF invests in scalable, early to mid-stage businesses and transitioning succession companies across various industries in North America. The fund specifically targets companies that increase ethnic and racial diversity in ownership and entrepreneurship in West Michigan.
NCTF has received investments from notable organizations, including ITC Holdings Corp. and the Frey Foundation, both contributing $500,000 to support minority-owned businesses.
NCTF invests in pre-seed, seed, seed+ (extension), and Series A stages, focusing on early to mid-stage businesses.
The fund primarily invests in North America, with a specific emphasis on West Michigan.
NCTF aims to promote economic prosperity in communities of color by providing not just capital but also resources to enhance diversity in ownership and entrepreneurship.
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