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OHIO JOBS AGENCY-EX-OFFICIAL
Ex-JobsOhio chief solicited investment business with retirement fund for public employees
Reported by: Associated Press
Reported: Thursday, October 24, 2013 5:09 PM EDT
A spokeswoman says the former head of Ohio Gov. John Kasich's signature job-creation entity approached the state's largest pension fund seeking private investment business but was rejected.
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.