Visiting Dignitaries

New York State Pensions Are Funding Startups: The Limited Partners VCs Rarely Discuss

Movable Ink cofounder Vivek Sharma and Mr. DiNapoli via Twitter @NYSComptroller

When a startup raises a round of funding, the news typically includes a list of venture capital firms and angel investors that participated. But when a private equity or venture capital firm is raising money for its own fund, the process is much more opaque. Thus it often goes unmentioned that VCs count state-run common retirement funds among their limited partners.

To remind everyone of that fact, State Comptroller Tom DiNapoli, who manages the New York State Common Retirement Fund, dropped by the offices of two local startups yesterday afternoon: Movable Ink, which lets users serve up dynamic live content in their email, and Truveris, a software company that helps customers with pharmacy costs. We’re guessing his motivation for the tour went a little something like: Why should El Bloombito get all the credit? Read More

The Tao of Steve

MTA to Says ‘Bring It On’ to Investigation Over Sweetheart Deal for Apple in Grand Central

bringiton

The MTA is not afraid of New York State Comptroller Tom DiNapoli. The Comptroller announced yesterday that he would be investigating whether the MTA gave Apple too sweet a deal on its Grand Central lease. For its response, the MTA dug deep in the turn-of-the-century sports comedy cannon:

“With regard to any calls for an investigation into the lease, our comment is this: ‘Bring it on,’” the agency told MacRumorsRead More