Post by clarencebunsen on Aug 21, 2013 14:02:55 GMT -5
New York State Comptroller to Promote Investments in Silicon Alley
dealbook.nytimes.com/2013/08/20/new-york-state-comptroller-to-promote-investments-in-silicon-alley/?nl=todaysheadlines&emc=edit_th_20130821&_r=0
The funds invested by the Comptroller are for the NYS Pension Plan. Investing in start-ups may yield good short term results but they are notoriously risky. Political considerations should not be a part of his investment strategy.
As New York City continues to promote the rise of Silicon Alley start-ups, the state comptroller’s office is doing its part for the cause.
On Tuesday, the office of Thomas P. DiNapoli plans to promote its investments in two technology companies, RebelMouse and CoopKanics, as part of its initiative to invest in New York businesses. (The two transactions were previously disclosed by the companies themselves.)
The investments were made as part of the comptroller’s In-State Private Equity Program, which meant to support native New York businesses while also generating hopefully solid returns. Last year, the comptroller’s office boasted that the program over all had yielded an internal rate of return exceeding 30 percent.
On Tuesday, the office of Thomas P. DiNapoli plans to promote its investments in two technology companies, RebelMouse and CoopKanics, as part of its initiative to invest in New York businesses. (The two transactions were previously disclosed by the companies themselves.)
The investments were made as part of the comptroller’s In-State Private Equity Program, which meant to support native New York businesses while also generating hopefully solid returns. Last year, the comptroller’s office boasted that the program over all had yielded an internal rate of return exceeding 30 percent.
dealbook.nytimes.com/2013/08/20/new-york-state-comptroller-to-promote-investments-in-silicon-alley/?nl=todaysheadlines&emc=edit_th_20130821&_r=0
The funds invested by the Comptroller are for the NYS Pension Plan. Investing in start-ups may yield good short term results but they are notoriously risky. Political considerations should not be a part of his investment strategy.
