New Community Transformation Fund Launches Informative Podcast to Strengthen the Entrepreneurial Ecosystem in Michigan
Author: Emily Gilbert
Posted Date: May 19, 2026
New Community Transformation Fund Launches Informative Podcast to Strengthen the Entrepreneurial Ecosystem in Michigan
Grand Rapids, MI (May 19, 2026) – New Community Transformation Fund (NCTF), a statewide venture capital fund, announced today it is launching a series of podcasts called “Capital for Change” which will provide fresh insight into Michigan’s entrepreneurial and early-stage investing sector. Starting this month, the organization will post monthly discussions with fund managers, investors and start-up CEOs who will talk about the opportunities and challenges in our economy.
The first three episodes dropped today (May 19), and are now available on the iHeartMedia platform. The first episode features a conversation with NCTF co-founders Birgit Klohs and Skot Welch, two highly acclaimed business leaders. They discuss how NCTF came into existence, and its mission to provide early stage capital to historically underserved entrepreneurs and business owners of color.
“Since establishing NCTF, we have invested in numerous start-up companies and supported several entrepreneurs as they work to grow their business,” said Birgit Klohs. “Our goal with the podcast series is to share our story more broadly throughout the state, with the purpose of promoting more investment in businesses owned and operated by people of color. If we do that, we can generate new pockets of economic development across Michigan.”
NCTF was founded in 2020, and quickly attracted a prestigious list of private, public, and philanthropic stakeholders who are committed to boosting Michigan’s economic development via entrepreneurs and business owners who were struggling to secure investment capital. The organization raised $12 million for its first fund. Earlier this year, NCTF announced the formation of its second venture capital fund (Fund II), and the first $5 million close of that fund. This second fund is a public-private initiative that has received a commitment of up to $9.8 million in matching funds from the Michigan Economic Development Corporation’s Small Business Venture Program.
“We’ve already realized a high level of impact with the support of our first fund investors, and we plan to extend our reach with the help of the MEDC through this second fund,” said Skot Welch. “To do that, we need to increase awareness of the VC landscape. We believe this new series of podcasts will generate a deeper understanding of our mission and how we’re working to improve our state’s economy by investing in companies owned by people of color.”
The podcasts are hosted by award-winning radio host, Phil Tower, and will be accessible on multiple streaming services including iHeartMedia, YouTube, Apple Podcast, Spotify, and Amazon Music. In addition to the first episode with the NCTF co-founders, listeners will also be able to hear the backstory of start-up founders such as Andrea (Dre’) Wallace, owner of Opnr, and Hannah Awada, co-founder of Hummus Goodness. These two women-owned Michigan businesses are part of the NCTF portfolio of investments.
“As a longtime Michigan broadcaster, I’ve had the chance to share many amazing business impact stories with listeners around our state, but the journey made by these start-up entrepreneurs is especially powerful,” said Phil Tower. “New Community Transformation Fund is filling an important funding gap and their work is opening doors to innovative people who are bringing economic vitality to communities throughout Michigan. I’m grateful to share these personal stories of success because I believe they can inspire others to do great things.”