Arizona-based Neighborhood Ventures has launched a national investment fund for accredited multifamily community investors that are raising investment capital from local sources through crowdfunding. The new national fund will expand the firm's platform and invite a new pool of investors to enter the Arizona multifamily market.

"We started in Arizona and we really focused in the Phoenix market, both from an offering standpoint and from our investors," Jamison Manwaring, co-founder of the platform, tells GlobeSt.com. "We knew that we ultimately wanted to launch a fund because it allows us to grow. If we are just raising capital from Arizona investors, we can do well, but we can only grow so much because there is only so much capital in Arizona. If we expand to the other 49 states, we have access to a lot more investors that can invest in our projects."

Co-founder John Kobierowski adds that the fund was essential to reach both accredited and non-accredited investors. "This helps us enhance the community investment. We have been lucky to be in Arizona where we have not only a strong market but an administration that has been very supportive of this," he tells GlobeSt.com. "We are somewhat restricted in mixing accredited and non-accredited investors in the same investment pool, so by creating this fund, you can add more accredited investors and outside investors. This really turbo charges what we were doing from the beginning."