Year-End 2023 Data: QOFs Tracked by Novogradac Surpass $37 Billion in Equity Raised

Tuesday, February 6, 2024 - 1:35PM

Qualified opportunity funds (QOFs) tracked by Novogradac reported a cumulative $37.62 billion in equity raised from the inception of the opportunity zones (OZ) incentive through Dec. 31, 2023. There was $3.53 billion in equity reported raised in 2023 by 1,461 QOFs tracked by Novogradac that reported a specific equity amount. Residential development continues to be the leading area of investment, with commercial development second. For more information, Notes from Novogradac blog posts examine the top-level data, types of development that QOFs target, the most popular cities and states for QOF investment and the sizes and investment amounts for various QOFs.

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