Greenwave Wants $250M For Opportunity Zone Fund

Law360 (September 3, 2019, 3:27 PM EDT) -- Greenwave Opportunity Fund said Tuesday it is targeting $250 million for a fund to invest in and snap up venture capital-backed clean energy projects with a focus on real estate, energy and water.

According to the statement, the fund is primarily focused on investing in qualified opportunity zone businesses. The opportunity zones program was created as part of the 2017 Tax Cuts and Jobs Act and is aimed at encouraging "social advancement and private investment in low-income communities to aid job creation and new business formation," the statement said.

"Now is the time to improve energy resiliency across the diverse marketplace by taking advantage...

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