Here’s a howling follow to our post yesterday about the crisis at the Ohio Bureau of Workers’ Compensation, and how it plans to make public the valuations of the investments it has made via venture capital — which could affect some local Silicon Valley start-ups.
Dan Primack, of PE Wire quotes OBWC’s press secretary, Jeremy Jackson (you’ll have to scroll down):
The way we have monitored all aspects of our private equity investments has been grossly immature. For example, if someone had asked us about specific valuation about companies inside of funds, we couldn’t have answered. We had no reconciling of performance numbers, or any benchmarking of returns…The difference is that I don’t think we were of a nature to have intelligently considered the issues, because we weren’t running a functional program.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more