COLUMBUS, Ohio (AP) — A spokeswoman says the former head of Ohio Gov. John Kasich's (KAY'-siks) signature job-creation entity approached the state's largest pension fund seeking private investment business but was rejected.
The meeting between ex-JobsOhio chief Mark Kvamme (KWAH'-mee) and the Ohio Public Employees Retirement System happened Jan. 22. He was representing Drive Capital, a venture fund he co-founded after stepping down in November.
OPERS spokeswoman Julie Graham-Price said pension fund officials decided not to invest in Drive Capital because it was a new fund. She said the pension system is "focused on the secondary venture capital market" that is better established.
Kvamme landed a $50-million commitment for Drive Capital from another publicly-funded entity, Ohio State University, in July. He says the fund will support technology companies in Ohio and the Midwest.