Hall Family Office has plans to launch Hall Venture Partners (HVP) and its first tax-advantaged venture fund, Hall Opportunity Fund 1.
Hall Opportunity Fund 1 has been opened to invest in early growth companies based in Utah, taking advantage of recent federal legislation to encourage investments into federally designated opportunity zones.
If applied properly, the opportunity zone legislation offers huge benefits to investors. It allows deferral of capital gains, potential original gain reductions of 10-15 percent, and potential permanent deferrals on any gains realized within a qualified fund. Provo, Utah, is home to an opportunity zone that has been identified as one of the top three most attractive opportunity zones nationally, and HVP is ideally positioned to deploy capital immediately into investments that will meet the strict opportunity zone requirements.
HVP’s Opportunity Fund 1 will select its portfolio targets from technology and material science companies, including potentially companies that currently are being supported by the Hall Family Office and established Hall Labs programs. Those companies are ready to enter the market. The fund will provide growth capital and access to resources from the Provo region. HVP is confident that it can use the fund to propel optimal expansion and timely exits, with the intention of providing attractive investor returns.