Source: 540wfla.com
The State of Florida has decided to use some pension fund monies for venture capital purposes.
The new Florida Growth Fund Initiative uses $250 million to invest in technology and growth-related businesses that have a relatively large presence in Florida.
“A small portion of the pension fund in is venture capital, growth capital” , says Williams.
According to Attorney General Bill McCollum, the pension monies would have been invested anyway. “The important thing is that, now the investments will be coming to Florida to grow jobs in Florida,” says McCollum.
