New Community Transformation Fund completed four new investments, bringing the organization’s total portfolio to 10 companies owned and operated by business leaders of color.
Abid Ali is the fund's Managing Director.
“We invest in businesses that will have positive impact on the BIPOC community and the community at large. How we define that is job creation opportunities, educational opportunities and employment opportunities. We make investments specifically in the state of Michigan.”
One of the new investments is Grand Rapids-based Holo Footwear, a Latino-owned shoe company producing sneakers designed with a focus on athleticism and performance.
They use eco-friendly materials and offer an affordable price.
Holo is growing quickly, developing signature shoes for professional athletes like the NBA’s Isaac Okoro and WNBA’s Jacy Sheldon.
“Their shoes are available at the stores that you think of: Nordstrom, Dick's Sporting Goods, they are in Meijer. They’ve done a good job of growing this business and it started right in our own backyard.”
The New Community Transformation Fund also added a Middle Eastern food producer in Birmingham, a jewelry manufacturer in Detroit, and Honeycomb Credit, a statewide crowdfunding loan company.
