Ray Waters - Bio
Mr. Ray Waters is the President of Detroit Development Fund (formerly Enterprise Detroit) and the Managing Director of the Detroit Community Loan Fund (DCLF). Detroit Development Fund and the DCLF provide growth capital to minority owned businesses in the City of Detroit. DDF provides financing packages for Detroit developers working on affordable housing projects and commercial projects in Detroit neighborhoods. DDF also provides lines of credit for smaller contractors in the city, allowing them to undertake nw construction jobs. In addition, DDF provides small quasi-equity investments in growth companies who can create jobs for Detroit residents. Prior to his involvement with Detroit Development Fund and the Detroit Community Loan Fund, Ray Waters 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 to 1999, Ray Waters served as President of Horizon BIDCO Investment Company, a mezzanine venture fund providing growth capital for some companies in Southeastern Michigan.
  He’s served on the National Advertising and Franchise Committee of the Hertz Corporation as well as the National Distributor Board of the Adolph Coors Company.

Ray Waters’ business career 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 two of these companies. Mr. Waters has been highly involved in local business communities and organizations. The following is a representative sample of his commitments:

Past President/Current Board Member

Past Member




External Advisory Board, EMU School of Business Management

New Enterprise Forum

External Review Board – Michigan Economic Development Corp/METF Fund

Local Advisory Board for LISC

Investee Committee- First Step Fund

Investment Committees (2) – Invest Detroit

Board – Detroit MicroEnterprise Fund
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