INM OPPORTUNITY ZONE FUND 2021
“INCUBATE AND FUND”
Fund Goals
InvestNewMexico (INM) has formed an Opportunity Zone Fund, INM-OZ FUND 2021, to invest in, and grow New Mexico companies operating in one of the 63 Opportunity Zones in New Mexico. Capital raise goal for INM-OZ Fund 2021 is $25 million. The fund will invest in up to 20 New Mexico companies. The fund has been set up to "Incubate and Fund" New Mexico companies that:
- Protect investor's principle and offer a reasonable rate of return
- Create good-paying jobs
- Support small and local businesses
- Provide a path for New Mexico College graduates to find careers in the state
Our Team
The fund has been created by Senior Managing Partner Kenneth Segura Knoll, and will be managed by Michael Segura and, Letitia Montoya, Native New Mexicans with extensive experience in raising capital and running businesses. Karl Dakin, serves as Business Development and Opportunity Zone Advisor, a leader of business startup projects and an advisor on innovation commercialization. Mathew Piro, serves as Capital Formation consultant with over $1.3 BN in successful financing transactions working on all property types with an emphasis on Multifamily Commercial Real Estate Development for Value Add and Ground Up Financing. Advisors include Rudy M. Beserra, former Coca-Cola's Senior Vice President for Latin Affairs, and Mary Herrera, former New Mexico Secretary of State.
NES Financial, a leading Opportunity Zone Fund Administrator, is providing complete "back office" support services and consulting services.
NES FINANCIAL PRESS RELEASE NOVEMBER 14, 2019
NES Financial, a leading Opportunity Zone Fund Administrator, is providing complete "back office" support services and consulting services.
NES FINANCIAL PRESS RELEASE NOVEMBER 14, 2019
What is an Opportunity Zone Fund?
A Qualified Opportunity Zone Fund is an investment vehicle, certified by the U.S. Treasury Department, organized to invest in a qualified Opportunity Zone property or business. An Opportunity Zone is a designation created by the Tax Cuts and Jobs Act of 2017 allowing for certain investments in lower-income areas to have tax benefits. An opportunities fund invests in companies, sectors or investment themes depending on where a fund manager anticipates growth opportunities. The fund must hold at least 90 percent of its assets in an Opportunity Zone.
Opportunity Zones provide three distinct benefits to investors…
1) Deferral: Investors can defer tax on any prior gains invested in a QOF until the investment is sold or December 31, 2026 - whichever event comes first.
2) Reduction: The tax obligation on capital gain that has been moved into a QOF will be reduced if the investment is held for 5 years - a 10% reduction of the base.
3) Exclusion: If the investment in the QOF is held for at least 10 years, all accrued gains from the fund are exempt from taxation.
Opportunity Zones provide three distinct benefits to investors…
1) Deferral: Investors can defer tax on any prior gains invested in a QOF until the investment is sold or December 31, 2026 - whichever event comes first.
2) Reduction: The tax obligation on capital gain that has been moved into a QOF will be reduced if the investment is held for 5 years - a 10% reduction of the base.
3) Exclusion: If the investment in the QOF is held for at least 10 years, all accrued gains from the fund are exempt from taxation.
Investment Paths
Our investment focus for 2021 includes these industries:
New Mexico Companies currently identified for INM-OZ Fund 2021 investment (representing $7.5 million in investments and creation of over 300 new jobs)
- AFFORDABLE HOUSING
- MANUFACTURING
- AGRICULTURE
- FILM AND EMERGING MEDIA
- TECHNOLOGY TRANSFER
- TOURISM
New Mexico Companies currently identified for INM-OZ Fund 2021 investment (representing $7.5 million in investments and creation of over 300 new jobs)