Former state treasurer, Phil Angelides, will set up his own venture firm in Sacramento.
In an interview with Bizjournal, Phil Angelides says his firm will invest first in real estate and green building projects, where he has experience. Over time, he’ll invest in other environmental projects and products, he said. As treasurer, Angelides led the state initiative four years ago to begin supporting investments in green technology — which helped spark interest in the area by Silicon Valley’s venture capitalists.
Thus continues the revolving door tradition in Sacramento. Like many other pension executives before him, Angelides should find it easy to draw on his contacts at California state pensions, such as CalPERS and CalSTRS, to help him raise money for his firm. He served on their boards for years, overseeing investment decisions.
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