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Vertical Farm Opportunity Fund #1

The Opportunity Zone Fund Directory is a compilation of publicly-announced funds formed to attract investment in Opportunity Zones (OZs). NCSHA is tracking only multi-project OZ funds. To learn more about a fund included in this directory, click on the name.

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Directory Stats as of July 1, 2020:

215 Total Funds $47.2 Billion Total Anticipated Investment 63% of Funds Target Investment in Affordable Housing and Community Development

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Fund NameVertical Farm Opportunity Fund #1
Fund Manager or Organizer(s)Crop One Holdings
Fund Size$30,000,000
Investment Focus
Commercial Real Estate, Community Revitalization, Economic Development, Other
If Other, Please Specify:Vertical Farming, Sustainable Agriculture
Geographic Focus
Additional Fund Details

Through the Vertical Farm Opportunity Fund #1, investors have the ability to partner with Crop One, the leading operator in the rapidly emerging vertical farming sector. Crop One provides vertical farming that can be rapidly scaled for the benefit of underserved populations with limited access to produce. Crop One has a unique combination of proprietary technology and industry leading plant science that can outperform yields from other types of farming, all while producing nutritious and delicious food.
The fund will invest in building and operating a vertical farm at Lockhart, TX. The Lockhart Farm is expected to own more than 13 acres, including the initial building (240,000 square feet), and will have the capacity to produce two tons of fresh produce per day. The initial production level will be one ton a day, and the farm will use cash flow from operations to double its capacity within the first four years of production. The Lockhart Farm expects to supply grocery chains, food service companies, and local restaurants.
The Lockhart Farm is located on Texas State Highway 30, giving easy access to Austin, San Antonio, Houston, Dallas-Fort Worth Metroplex, a serviceable market estimated at 17 million people. With the creation of approximately 75 new jobs, the farm will have a positive economic impact on the local economy. The Lockhart Farm will use only one percent of the water of conventional farming while producing pesticide-free, non-GMO, delicious, and nutritious food. The climate-controlled and soil-free growing methods significantly reduce waste, improve product shelf life, and have 1/600th of the bacteria compared to traditional farming.

Organization Details

California-based Crop One Holdings is a technology-driven vertical farming company that produces fresh, organic produce in a sustainable manner for its customers. It operates two subsidiaries: FreshBox Farms in Millis, Massachusetts, and a joint venture with NCSHA Opportunity Zone Fund Directory | Page 215 Emirates Flight Catering in Dubai South, United Arab Emirates. Crop One has been in continuous commercial production longer than any other vertical farmer in North America. The company’s proprietary technology and plant science put it ahead of its competitors, producing crop yields among the highest of the industry but at 25 to 50 percent of the capital cost of other vertical farming companies.

Fund Contact....
NamePitichoke Chulapamornsri
Job TitleVice President
Phone(508) 794-1449
EmailEmail hidden; Javascript is required.

The listings on this page are provided as a free service to potential community development funding recipients. The information contained on this page is for informational purposes only and does not constitute an offer to sell or solicitation of an offer to buy securities. NCSHA does not provide investment advice, and these listings are not to be construed as a recommendation to engage in a transaction with a particular party.

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