New Community Transformation Fund, or NCTF, is a venture capital fund that invests in Grand Rapids companies owned and operated by BIPOC leaders to create opportunities for entrepreneurs of color.
This year, NCTF is investing in three businesses:
RiseKit, a software platform that connects underrepresented talent with employers,
Functional Fluidics, a global health technology company that specializes in red blood cell health,
and Opnr, a platform that helps concert organizers save time and boost ticket sales by matching them with acts for their shows.
“We looked at roughly around 200 deals, did 30 introductory calls, and these were the three deals that were taken to that investment committee.”
Managing director for NCTF Abid Ali says they committed between $250,000-$600,000 in each of the companies.
“The thesis was grounded in multiple things, whether the impact in the BIPOC in the city of Grand Rapids. The second part of the thesis was strong financial performances for these specific companies, and three was really supporting the leadership team that is made up of BIPOC founders and the management team.”
