The management company's first OZ fund— Opportunity Zone Fund I—has a target to raise $10 million from inventors and is set to launch in late 2019. The firm hopes to secure its first acquisition in January 2020.

Mallory & Evans and Ozone Capital will build and invest in an Opportunity Zone, which will likely stimulate the local economy.

With the merger deal, Westward360, which provides real estate management services for rental property owners and community associations, will now be known as W360 and will employ more than 200 employees in Chicago.

Under the Community Development Financial Institution initiative, the NJEDA will make up to $15 million available to CDFIs to expand their capacity to provide financing to New Jersey small businesses. Applications for the program are expected to be available in September 2019.