QOFs Tracked by Novogradac Surpass $20 Billion in Equity Raised

Friday, October 22, 2021 - 8:45am

Novogradac partner John Sciarretti announced at the Novogradac 2021 Fall Opportunity Zones Conference in Cleveland this week that qualified opportunity funds (QOFs) tracked by Novogradac raised $20.28 billion by the end of September, a jump of nearly 16% over three months. Novogradac is tracking 1,243 QOFs, of which 909 report a specific equity amount–an amount that is $2.76 billion more than the total at the end of June. While the equity amount increased by 15.8% over that period, the number of QOFs reporting an equity raise increased by 6.6%. A blog post by Michael Novogradac provides more details, including the types of investment being made.

Stay informed on the latest opportunity zones (OZ) news and analysis, including coverage of QOF investments around the country, with the Novogradac Journal of Tax Credits.