Is it? I ask because welcome seems like simple modifier for feel, much like comfortable or at home. He will make you feel comfortable. He will make you feel at home. He will make you feel welcome.You could also use "welcome" in your first version. In fact, this would be more common: He will make you feel very welcome. This is a special case where "welcome" has dropped the "d" at the end. It is now an ordinary adjective that works without the "-ed" ending of past participles.