National Equity Fund and Silicon Valley Bank Launch $110 Million Opportunity Zone Investment Fund to Create Affordable Housing in High-Rent California Districts
LOS ANGELES and SAN FRANCISCO, Aug. 26, 2021 /PRNewswire/ -- Silicon Valley Bank (SVB) partnered with non-profit, tax credit syndicator, National Equity Fund (NEF), to commit $110,000,000 for affordable housing in Los Angeles and the Bay Area. Leveraging an innovative and deliberate use of Opportunity Zone incentives, the Silicon Valley Bank proprietary fund is committed to place all $110 million in Low-Income Housing Tax Credit deals before the end of 2021, despite having just funded earlier this month.