|By PR Newswire||
|March 7, 2014 11:29 AM EST||
COLUMBUS, Ohio, March 7, 2014 /PRNewswire-iReach/ -- Cloudseed International Fund (Cloudseed) has been approved by the United States Citizenship and Immigration Service to operate as an EB-5 Regional Center based in Columbus, Ohio. Using the 5th Employment Based Preference Visa Program (EB-5), qualified foreign investors can obtain a US Visa as they invest through the Cloudseed Regional Center. Cloudseed will act as a private equity fund to pool these foreign investments and in turn offer capital to Central Ohio, job-creating ventures.
Cloudseed is the brainchild of Sumeet Patil, a first-generation U.S. citizen born in Belize Central America, whose parents emigrated from India. Mr. Patil comes to Cloudseed from JP Morgan Chase where he was a nationally licensed mortgage banker. As the CEO of Cloudseed, Mr. Patil is looking forward to helping foreign investors live their American Dream. "After a long journey, we are excited to bring a Regional Center to Central Ohio," said Mr. Patil. Initially, Cloudseed will focus on commercial real estate development. "Real estate developers are not only intrigued by the alternative capital options EB-5 has to offer, but also to be a part of keeping our economy moving forward. I am extremely excited to provide a positive impact on local job creation and show the international community the advantages of investing in Ohio," Patil continued.
Mr. Patil formed the Cloudseed International Fund alongside Bradley B. Wrightsel, a practicing attorney licensed in the State of Ohio with over 20 years' experience in working with real estate developers. He has formed several legal entities for the purpose of developing, owning, and managing real property. Mr. Wrightsel is the Immediate Past President of the Columbus Bar Association, an association with over 5,000 total members. He is also certified as a specialist in the area of Estate Planning, Trust and Probate Law.
Currently, the majority of the EB-5 foreign investment comes from China and East Asia. Cloudseed will also seek investors from the many other relatively untapped markets around the world such as India, Russia, and Latin America. With that in mind, the Cloudseed International Fund has brought on Partner and Director of Operations for Latin America, Mr. Joaquin Burgos. Mr. Burgos comes to Cloudseed from PR Newswire where he was Vice President of Distribution Products. Prior to his work with PR Newswire, Joaquin co-founded Notilog with offices in Mexico, Argentina, Costa Rica, and Brazil. As CEO of Notilog, he and his business partner developed a software platform that analyzed Spanish- and Portuguese-language print, broadcast, and online news to create real time reports. PR and IR executives used this information to understand what was being said about their respective companies, products, and executives. Joaquin speaks and writes fluently in Spanish, English and Portuguese.
Cloudseed will assist foreign investors by monitoring job creation in regards to the project, prepare reports regarding the status of their investment, and submit the required documentation to the USCIS to ensure compliance. For local borrowers, the professionals at Cloudseed along with their partners will conduct comprehensive research, analysis, and due diligence in order to qualify a project as a potential investment. Selection criteria is based on several factors including the financial standing of the developer, their history of successful projects, and the commitment to creating jobs in our Region.
The Cloudseed International Fund is committed to providing an exceptional level of service and building lasting relationships through trust and transparency.
Media Contact: Sumeet Patil, Cloudseed International Fund, 6142598565, [email protected]
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SOURCE Cloudseed International Fund