How the Frey Foundation Helped Launch the New Community Transformation Fund

What this episode covers

In this second episode of Capital for Change, host Phil Tower is joined once again by New Community Transformation Fund co-founders Birgit Klohs and Skot Welch for an inside look at one of the key early partnerships that helped propel the fund forward.Birgit and Skot speak with Holly Johnson, President of The Frey Foundation — one of West Michigan’s leading family foundations and an early supporter of the New Community Transformation Fund.In this conversation, you'll hear how founders Birgit Klohs and Skot Welch identified Holly Johnson and The Frey Foundation as a critical early partner while building support for the fund’s ambitious vision: investing in scalable businesses owned and operated by entrepreneurs of color in West Michigan.Johnson reflects on her initial reaction to the idea of the fund, why the mission resonated so strongly with The Frey Foundation, and why her team chose to make a significant early commitment to help advance the initiative. The conversation also explores the broader role philanthropy can play in economic transformation as Johnson shares how The Frey Foundation’s core “Pillars of Place” — Building Community, Children & Families, Community Arts, and the Environment — align with the long-term vision of the New Community Transformation Fund and its potential ripple effects throughout communities across West Michigan.Klohs and Welch share what it meant to receive a $500,000 commitment from The Frey Foundation during the fund’s early stages and explain how moments like that helped validate the vision and generate momentum among other investors and community partners.We also gain deeper insight into the mission of the New Community Transformation Fund itself — a now-$25 million venture capital fund focused on investing in businesses led by entrepreneurs of color.Learn more at New Community Transformation Fund and the Frey Foundation.Looking for insight on startups, entrepreneurship, venture capital, and economic development in Michigan?“Capital for Change” features business leaders Birgit Klohs and Skot Welch, joined by host Phil Tower, exploring how innovative ideas become successful companies. Listen on the iHeartRadio app and wherever you listen to podcasts.And if you enjoyed this podcast series, please share it with a friend!

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