The Power of Purpose-Driven Investing with NCTF Managing Director Abid Ali

What does it take to identify businesses that can generate both financial returns and meaningful community impact?In Episode 5 of Capital for Change, host Phil Tower is joined by New Community Transformation Fund co-founders Birgit Klohs and Skot Welch for a conversation with Abid Ali, Managing Director of the New Community Transformation Fund.Together, they explore how strategic investments can create new pathways for entrepreneurship, economic growth, and opportunity across Michigan.Abid shares his delightful and surprising pathway and personal journey to the New Community Transformation Fund and offers an inside look at how the organization evaluates investment opportunities through both a business and community-impact lens. Abid is also a principal with Michigan Capital NetworkTheir discussion highlights the fund’s recent portfolio expansion, including four new investments that bring its portfolio to ten companies led by innovative entrepreneurs committed to growth and transformation.Adid also shares some of the companies helping drive that impact, including Grand Rapids-based Holo Footwear, a fast-growing Latino-owned athletic footwear company that has gained national attention through partnerships with professional athletes and placement in major retail outlets.Abid explains what made Holo an attractive investment and why supporting founders with bold visions can create ripple effects throughout local and regional economies.The conversation also explores the broader portfolio of businesses supported by the fund, including companies operating in technology, workforce development, consumer products, healthcare, and financial innovation. Abid discusses how these investments align with NCTF’s mission of expanding access to capital and creating long-term opportunities for business leaders of color.Whether you're an entrepreneur, investor, community leader, or simply interested in the future of economic development in Michigan, this episode offers valuable insights into how mission-driven capital can help build stronger businesses and more vibrant communities.Capital for Change is powered by the New Community Transformation Fund, a $25 million venture capital fund investing in companies owned and operated by business leaders of color located in West Michigan or committed to growing their businesses in the region. 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!