Records: Fund Pitched OSU On $50M Investment

File photo(Photo: Ohio State University)
File photo(Photo: Ohio State University)

Newly released records show the private venture capital fund co-founded by former JobsOhio chief Mark Kvamme first approached Ohio State University before Kvamme stepped aside from his state-related job-creation role.

Ohio State made a $50 million financial commitment to the fledgling fund Drive Capital in July.

Documents released Friday in response to a public records request showed fund co-founder Chris Olsen had met with university officials by Oct. 26, 2012. Kvamme left JobsOhio effective Nov. 1, 2012.

The investment has raised concerns because of the ties of Kvamme and then-Ohio State President Gordon Gee to Gov. John Kasich.

A university vice president says Drive Capital approached the university in the normal course of business. Geoff Chatas said the first meeting occurred before the fund was launched.

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