A Michigan-based venture capital fund focused on investing in businesses owned by people of color has joined forces with a renowned investment firm, paving the way for expanded growth and a more significant impact for both organizations. According to Crain’s Grand Rapids Business, the New Community Transformation Fund has partnered with Michigan Capital Network, which will manage fund’s, daily operations, and offer strategic guidance. Discussions between the two Grand Rapids firms began months ago. Paul D’Amato, CEO and managing director of Michigan Capital Network, said it “made sense” for both organizations from the start of the process. “We share their goal of creating access to capital for people of color because we know that business growth, entrepreneurship and capital investment strengthens our economy and makes our state more attractive to other businesses looking to relocate,” D’Amato said, Crain’s Grand Rapids reported. Through the affiliation, which gives the venture...

The tech industry isn’t exempt from the phrase, “There’s enough room for everybody to win.” According to a Dice report, over 375,000 tech jobs were posted in October 2022 and were up by 25% from the previous year period (January 2021-October 2021). One of the U.S. cities creating an influx of opportunities in the tech sector is Detroit, MI. Last year, the “Motor City” ranked No. 1 on the list of top 100 emerging startup ecosystems in the world, per a report by Startup Genome.

Method Man’s TICAL cannabis brand has gone from being available at Denver, CO dispensaries to now, a new state. Benzinga reports that the rapper has joined Glorious Cannabis Co. to bring the brand to Michigan.

Our history when it comes to Historically Black Colleges and Universities (HBCUs) is unmatched! The Pensole Lewis College of Business and Design (PLC) is the latest institution to make huge waves as it has officially drafted proposed legislation to become the nation’s first-ever re-opened HBCU. Originally known as The Lewis College of Business in 1928, it first operated as a secretarial school for Black women prior to relocating to Detroit in 1939 and became a critical economic source for the city’s Black community. Stemming from royalty, PLC is a dream school-made reality thanks to Dr. D’Wayne Edwards, the founder of the PENSOLE Design Academy in Portland, OR. He is also stockholder of the previously closed Detroit-based HBCU, Lewis College of Business. Now, through a partnership with the College for Creative Studies (CCS), PLC will reopen its doors in March 2022 with a mission to serve as a home for aspiring Black creatives, business leaders, designers and engineers. It will also...

MassMutual is linking up with Michigan’s only Black-owned bank to work toward closing the racial wealth gap! According to the news release , First Independence Bank (FIB) is the only Black-owned bank in Michigan and through the new strategic alliance with MassMutual Great Lakes (MMGL), they’ve committed to helping the underserved reshape how they view money. “At MassMutual Great Lakes, we believe every individual, small business owner, and corporation deserves the right to financial services and strategies designed to create stability,” said MassMutual Great Lakes Manuel Amezcua in an official news release. “Our commitment is to develop meaningful relationships that reshape the financial well-being and success of a diverse group of individuals and institutions in the communities we serve.” Since its launch in 1970, FIB has served the dreams and financial needs of Black Americans and is one of only 155 minority depository institutions, according to Black Enterprise, in the nation and...

Two Michigan natives are making history with the state’s first Black-owned brewery. Jamaal Ewing and Terry Rostic — who’ve deemed themselves as “craft beer heads” will open Black Calder Brewing Co. — on Black Friday. The craft beer heads will release their Black IPA (7% alcohol by volume), in the Grand Rapids area, reports the Detroit Free Press. The Black IPA will be sold exclusively out of Broad Leaf Local Beer in Kentwood and they have plans to collaborate with other Michigan breweries in the coming months. During its “start-up phase,” Black Calder will contract with Grand Rapids-based Brewery Vivant and Broad Leaf Local Beer with plans of opening a physical location in Grand Rapids in 2021. “Black Calder Brewing Company was established to make great beer and provide a platform for innovation, art, culture, and inclusion in the craft beer industry,” said Rostic in a news release. “We appreciate the significance of being recognized as Michigan’s first Black-owned brewery. It’s...