Ford Foundation, RIIF Launch $5 Million Initiative to Empower Next Generation of Appalachian Investors

The Emerging Appalachian Investors Fund equips local students as emerging investors, building a network of Appalachian capital allocators to drive regional growth

HUNTINGTON, W.Va., April 3, 2025 /PRNewswire/ -- The Ford Foundation and REDF Impact Investing Fund (RIIF) are deepening their commitment to the future of the Appalachian region, announcing a groundbreaking $5 million initiative that puts investment capital directly in the hands of local students. The Emerging Appalachian Investors Fund will empower students from Marshall University, West Virginia University, and Ohio University to become the next generation of community-focused investors, with plans to expand to more institutions in the future.

The initiative transforms traditional investment education by giving students real-world experience in directing capital to projects that matter to their communities. The fund will support Appalachian Regional Commission initiatives focused on empowering community leaders to use economic development as a catalyst for positive change. This innovative program builds on the Ford Foundation's recent $6 million investment in the Appalachian Growth Fund (AGF), reflecting a comprehensive strategy to fuel economic growth from within the region. It will support Ford's ongoing Heartland Initiative, which benefits organizations and individuals in the Midwest, the South, Appalachia, and rural America. Over the past two decades, the Ford Foundation has committed more than $87 million in funding to projects aimed at increasing economic opportunity in the Appalachian region and the Heartland, comprising communities in the Midwest, the South and rural America.

"The entrepreneurial spirit of Appalachia has always been one of its greatest strengths, and now we're investing in the next generation to amplify that power," said Roy Swan, Ford Foundation director of Mission Investments. "By putting investment decisions in the hands of emerging Appalachian leaders and their mentors, we're not just funding businesses—we're building a new network of local investors who understand their communities' needs firsthand. This partnership with RIIF and Central Appalachian  universities demonstrates our commitment to creating sustainable economic opportunities that start and stay in Appalachia, and we hope other capital providers will join us in supporting these emerging investors who are shaping their region's future."

This program aims to develop a cohort of emerging finance professionals from Appalachian educational institutions. Student investors will gain hands-on experience in early-stage venture capital investments, including deal sourcing, due diligence and underwriting, and portfolio management of the Fund. The initiative will provide learning opportunities for students while also driving capital allocation to early-stage investments, including opportunities that advance Appalachian regional economic priorities. To connect students with regional venture investors, the Fund will collaborate with groups like the West Virginia Investor Collaborative, Wing2Wing Ventures, and Vantage Ventures.

These investments will be managed by RIIF Capital LLC, a wholly owned subsidiary of the REDF Impact Investing Fund, in partnership with local stakeholders.

"We are thrilled to partner with the Appalachia Emerging Investors Fund. Under president Brad Smith, our strategic plan is to become a prosperity platform for the region," said Brandon Dennison, Marshall University vice president for Economic and Workforce Development. "Strong partners such as RIIF and the Ford Foundation bring crucial investments and expertise to accelerate economic development for our communities while creating life-changing opportunities for our students in the process."

"This important support from the Ford Foundation will give WVU students hands-on experience in impact investing, benefiting businesses today while preparing our students for career success," said Anne Jones, director of the Morris L. Hayhurst LaunchLab at West Virginia University.

"We're thrilled to collaborate with REDF and our peer institutions on this groundbreaking initiative. It's a natural extension of Ohio University's Bobcat Seed Fund, which has successfully launched student-led ventures and significantly enhanced career opportunities for our student investors," said Jackie Rees Ulmer, dean of the Ohio University College of Business. "By creating new sources of capital for Appalachian entrepreneurs and building on the success of our partners at TechGROWTH Ohio—a regional venture development fund—this effort can support vibrant, thriving communities across our region. Our goal is to have a positive societal impact, and this collaboration puts us closer to realizing that vision."

"The firsthand experience students gain in directing capital to impactful projects will help demonstrate how economic development can play an integral role in creating more vibrant communities," said Carrie McKellogg, CEO of REDF Impact Investing Fund. "By putting capital in the hands of the next generation of venture investors from Appalachia, we can build a diverse bench of proximate leaders who influence long-term economic growth in the region."

ABOUT THE FORD FOUNDATION

The Ford Foundation is an independent organization working to address inequality and build a future grounded in justice. For more than 85 years, it has supported visionaries on the frontlines of social change worldwide, guided by its mission to strengthen democratic values, reduce poverty and injustice, promote international cooperation, and advance human achievement. Today, with an endowment of $16 billion, the foundation has headquarters in New York and 10 regional offices across Africa, Asia, Latin America, and the Middle East.

ABOUT REDF IMPACT INVESTING FUND

The REDF Impact Investing Fund (RIIF) provides financing and capacity-building assistance to businesses with a mission to offer jobs, training, and support to people breaking through barriers to employment. RIIF, a certified nonprofit Community Development Financial Institution (CDFI), helps catalyze growth in companies to create more jobs for overlooked talent nationwide. RIIF is a 501(c)(3) tax-exempt nonprofit corporation that was incorporated by REDF in 2019. For more information about RIIF, visit redf.org/impact-investing.

SOURCE Ford Foundation