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The growing positive impact of the New Community Transformation Fund with co-founder Skot Welch (12-29-24)
Published 1 year, 4 months ago
Description
On this week's episode host Phil Tower welcomes back Skot Welch, M.M., Co-Founder & Managing Partner with New Community Transformation Fund.
Scott gave an update on the New Community Transformation Fund, and told us of a recent affiliation agreement with Michigan Capital Network. Under this agreement, both organizations will remain as stand-alone entities and will continue to operate under their respective governance structures. MCN Ventures will now provide guidance, due diligence, compliance support, and administrative services for NCTF’s investment initiatives.
New Community Transformation Fund was established in January 2020 and is based in Grand Rapids.
Skot told the story of how the fund's creation came from conversations with longtime The Right Place, Inc. president and CEO Birgit Klohs and Skot Welch had to create opportunities for entrepreneurs of color. The New Community Transformation Fund aims to primarily invest in companies owned and/or operated by diverse business leaders while providing suitable risk-adjusted returns to its investors. The fund focuses on early to mid-stage businesses and transitioning succession companies within financial technology, health care, advanced manufacturing, and information technology.
Finally, Skot touched on his work with The Mosaic Film Experience. MFE was founded in 2012 by Skot Welch, as a pioneering innovation initiative focused on engaging underrepresented youth in digital media and storytelling. Skot shared the exciting news that the Mosaic Film Experience was recently awarded a $50,000 grant from the Sony Electronics CREATE ACTION program.
ONLINE RESOURCES:
-New Community Transformation Fund
-The Mosaic Film Experience
Scott gave an update on the New Community Transformation Fund, and told us of a recent affiliation agreement with Michigan Capital Network. Under this agreement, both organizations will remain as stand-alone entities and will continue to operate under their respective governance structures. MCN Ventures will now provide guidance, due diligence, compliance support, and administrative services for NCTF’s investment initiatives.
New Community Transformation Fund was established in January 2020 and is based in Grand Rapids.
Skot told the story of how the fund's creation came from conversations with longtime The Right Place, Inc. president and CEO Birgit Klohs and Skot Welch had to create opportunities for entrepreneurs of color. The New Community Transformation Fund aims to primarily invest in companies owned and/or operated by diverse business leaders while providing suitable risk-adjusted returns to its investors. The fund focuses on early to mid-stage businesses and transitioning succession companies within financial technology, health care, advanced manufacturing, and information technology.
Finally, Skot touched on his work with The Mosaic Film Experience. MFE was founded in 2012 by Skot Welch, as a pioneering innovation initiative focused on engaging underrepresented youth in digital media and storytelling. Skot shared the exciting news that the Mosaic Film Experience was recently awarded a $50,000 grant from the Sony Electronics CREATE ACTION program.
ONLINE RESOURCES:
-New Community Transformation Fund
-The Mosaic Film Experience