BizNow
"For real estate, you may get two times your money back, triple, maybe quadruple, but we don't even think about investing in a [QOZB] if we don't at least get a 10 times return on it. It's huge potential but it's also higher risk," said Phillips, who launched New York-based The Pearl Fund in May.
PEW/Stateline
Brian Phillips is an entrepreneur who is confident he can find promising tech startups that are already in a zone or willing to move to one. But last year, when Phillips was considering creating an opportunity zone fund focused on businesses, he was “kind of the only one.”
Inc. Magazine
Brian Phillips is managing partner at The Pearl Fund, the first Opportunity Zone fund in the country that is also a venture capital fund, and has been building and selling high-growth companies for three decades in heavily capitalized innovation hubs. He believes there are "huge incentives to release capital into OZs," which is why he says "we are moving high growth businesses into these zones."
Crains
“It seems too good to be true,” said Phillips, whose enthusiasm is winning attention. After speaking at a January expo, he was invited to appear at a march 14th white house event to tout opportunity zones
The New York Post
“We got a nice big rush of capital in December,” said Brian Phillips, a serial entrepreneur who runs the New York-based Pearl Fund that invests in opportunity zones nationwide. And he anticipates another flood of money as he carefully assesses his investments for a slew of projects at the Brooklyn Navy Yard, a designated zone.