Ray Waters has been involved with Detroit Development Fund (DDF) and the Detroit Community Loan Fund (DCLF) for the past 13 years. He is currently the President of Detroit Development Fund. DDF has grown from a $2 million in loan capability to managing $23 million loan capital. Since inception DDF has loaned and invested $35 million dollars to Detroit companies and projects. Ray provides strategic direction and overall management of DDF, including planning, fund-raising, supervising staff, reporting to the Board of Directors, and meeting with all external investors.
DDF and the DCLF provide growth capital to businesses in Detroit. DDF provides financing packages for Detroit developers working on affordable housing projects and commercial projects in Detroit neighborhoods. DDF also provides a line of credit for smaller contractors in the city allowing them to undertake new construction jobs.
Prior to his involvement with the DDF and the Detroit Community Loan Fund, he was a Managing Partner of BBC Ventures. In addition to consulting, BBC sought to acquire early stage life science companies to be managed from its' Ann Arbor, Michigan offices.
From 1990 - 1999. He served as President of Horizon BIDCO Investment Company, a mezzanine venture fund providing growth capital for companies in Southeastern Michigan
Mr. Waters business career also includes over 20 years experience as CEO and owner of three profitable growth companies, two of which were start up ventures. His hands on operating experience included structuring the sale of those companies
He served on the Small Business Advisory Board for the Federal Reserve Bank of Chicago. He has also served on the National Advertising and Franchise Committee of the Hertz Corporation, and the National Distributor Board of the Adolph Coors Company.
Mr. Waters has been highly involved in local business communities and organizations. The following is a representative sample of his commitments:
Past President New Enterprise Forum
Past Member External Review Board Michigan Economic Development Corp, Michigan
Emerging Technology Fund
Member Local Advisory Board for LISC
Member Investment Committee, First Step Fund
Member 2 Investment Committees, Invest Detroit
Member Invest Michigan Investment Committee
Past Board Member Detroit Micro Enterprise Fund