The Pearl Fund is excited to launch and operate Opportunity Zone Incubator™. For a fee, Opportunity Zone Incubator™ will provide office space and expertise to identify, develop and support new Opportunity Zone Businesses, and turn existing startups and businesses into more developed or sustainable Opportunity Zone Businesses. The combination of development and support services for new Opportunity Zone Businesses with the accelerator services for existing startups and businesses provided by Opportunity Zone Incubator™ is a first of its kind in this country.
The Pearl Fund’s Opportunity Zone Incubator™ will also provide oversight by the principals of Pearl Fund Management Company, LLC (the “General Partner”) and services such as administration, finance, design, marketing, public relations, legal, and engineering, to the Opportunity Zone Business investments that the Pearl Fund makes. We expect these companies to grow to a point they are able to obtain their own facilities and hire full time staff and thus leave room for new early stage investments for the Pearl Fund.
The General Partner is launching an Opportunity Zone Incubator™ in the Brooklyn Navy Yard, which will help identify quality, opportunistic investments, while supporting new Opportunity Zone Businesses and accelerating existing startups and businesses. In addition, the General Partner intends to launch an Opportunity Zone Incubator™ in Pennsylvania near Scranton, to identify and support early stage businesses located in the area. These Opportunity Zone Incubators are expected to contribute significantly to the Pearl Fund’s access to potential investments; attract, nurture and accelerate the growth of early stage companies; catalyze innovation; foster collaboration and provide a competitive advantage to attracting top talent.
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