Stephen Trotta, Founder of DelCam's Opportunity Zone Fund
NEWTON, MA – Local-based DelCam Holdings, LLC reports that it will launch its first Opportunity Zone fund later this year, which will focus on acquiring and revitalizing small manufacturing companies in Opportunity Zones in the Northeast and Mid-Atlantic.
The management company's first OZ fund – Opportunity Zone Fund I – aims to raise $ 10 million from inventors and is scheduled to launch in late 2019. The company hopes to secure its first acquisition in January 2020.
The senior executives at DelCam Holdings include founder Stephen Trotta, a more than 15 year old finance manager who currently runs his own real estate-focused private equity firm. Previously, he was Senior Director at Fidelity Investments for 11 years on the institutional side of the company. Other DelCam executives include Richard Gibble, CFA, who serves as executive director and CFO. Gibble has 20 years of investment experience in previous roles with mutual funds and as an executive director of an academic capital markets research center and professor at Bentley University.
"After much analysis and time with small manufacturing companies, we have come to the conclusion that many are ripe for growth and often lose their business because they do not have the means, systems or tools to meet the demand," says Trotta, founder from DelCam & # 39; s Opportunity Zone Fund. "We have identified 1,600 small manufacturing companies in Opportunity Zones that we will isolate from a strategic management perspective and acquire four to six companies with opportunities for advancement."
DelCam says the fund's focus will be on growing these small manufacturing businesses and executing value-added plans that drive significant job development in communities that need it most. DelCam says it plans that business investments will be a sustainable driver of positive community growth in opportunity zones going forward.
“Our predictions are that we will create at least 100 solid, medium-sized wage jobs over a 10 year period while providing opportunities for upward mobility, management training and other benefits that many of our employees may never have been exposed to. We believe the Opportunity Zone program was designed for just that, and we intend to do it, ”says Gibble of DelCam.