SCC is founding the “Opportunity Zone Fund, Inc.” (OZ Fund) to invest in qualified opportunity zone tangible and trade or business property. In addition, SCC will found “Space Fund.” These funds will be managed by SCC and invest in startup and incumbent companies operating in outer and terrestrial space technology R&D and commercialization, terrestrial infrastructure, and products and systems. Founding investors in the Space Fund comprise of academia, nonprofit and private enterprise whom contribute a minimum of $50 million into the Space Fund. Founders are entitled to “first look” at technologies spinning out of Ports. Founders will assist SCC to select interdisciplinary teams to found space commerce startup companies, and at Founder’s discretion, invest additional funds into a startup. Founders can mentor startups that choose to locate in a Brain Works facility located within a Port. SCC wants to reach 500 Founders investing $50 million into the Space Fund, and an additional 500 Founders investing $50 million into the OZ Fund. Non accredited investors can invest in both funds via the Jobs Act. SCC’s funds follow 5 star talent.
Investors are sitting on more than $2 trillion in unrealized capital gains, according to the Economic Innovation Group, a Washington D.C. think tank, that devised the opportunity zone program in the U.S. Nearly all opportunity funds invest primarily in constructing new, or rehabilitate existing real estate. Some have an investment strategy more narrowly focused on a specific type or real estate use, such as affordable housing, office, multifamily or mixed use. None consider creating economic development around their projects, or how their projects affect the surrounding community.
The OZ Fund weds investment in tangible and trade or business property with Space Fund investment in startups and incumbent companies commercializing outer and terrestrial space technologies. Together, investment creates economic development throughout a Port location.OZ Fund investment is directed to projects bringing the largest tax benefit linked to asset appreciation, the more capital gains taxes avoided. Rapid asset appreciation is fueled by economic development throughout a Port location. For example, Jane Doe sells her long term owned shopping center for a $5 million gain. She shelters the $5 million by reinvesting into the OZ Fund. The OZ Fund invests $5 million to upgrade an office building to locate startup companies commercializing space technologies. Startup companies occupy Jane Doe’s building, and pay her rent. Over the next 15 years, the fund invests into upgrading more buildings and additional startup companies occupying them. Then, the fund invests in supporting businesses and structures, such as residential housing, food service and entertainment venues. Over the 15 years, economic development expands beyond a Port location. Startup company founders are vetted and selected by SCC and Founders of the Space Fund to commercialize mature technologies developed by the U.S. military, DoD, NASA, DoE, USDA and colleges and universities. Vetted startup companies receive money from the Space Fund.
In addition to Founders taking an equity or debt position in an OZ Fund or Space Fund asset, SCC provides additional monetary rewards to Founders of each fund. SCC pays Founders 49% of the interest or dividends earned from investment of the funds’ principal on annual basis.
Individual Founders are paid a share of the 49% proportionate with the percentage of their investment amount into a fund.
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