GRAND RAPIDS — A new venture capital fund to invest in businesses owned by racial and ethnic minorities looks to secure financial backing locally before reaching out nationally for investors. GRAND RAPIDS — A new venture capital fund to invest in businesses owned by racial and ethnic minorities looks to secure financial backing locally before reaching out nationally for investors. Organizers of the Grand Rapids-based New Community Transformation Fund LP want to secure an initial $5 million commitment from local investors before approaching prospective investors across the country.