Would regional centers be interested in tech startups as EB-5 investments?

No reason that can’t work.

Most regional centers raise funds for real estate and construction because the EB-5 investors, from my lengthy experience, prefer to invest in projects that have brick and mortar assets or other hard assets that can secure their investment. The problem with non-real estate or construction projects is that the EB-5 funds raised will mainly be used for operating capital/working capital, which means it will be spent with nothing to secure the return of capital. This is especially a concern if the company is pre-revenue. All that said, we have raised funds successfully, for non-construction projects from time-to-time, where the company is already generating revenue and is raising funds to grow. So, if the tech companies are already generating revenue and not just raising EB-5 funds for research and development, etc., the prospects of raising EB-5 funds are much higher. We also recommend that you offer a higher preferred return rate to such investors in view of the higher risk they are assuming.

Most foreign investors in the EB-5 program feel more comfortable with real estate projects, as real estate has tangible value. Thus, there is a bigger focus on real estate projects.