Is there $73 million worth of life sciences investment in Indiana? Who knows? If so, what has prevented the private sector from exploiting these opportunities? If less, we have a recipe for poor investment decisions. These issues and broader ones are germane to all of us; these are, after all, mostly public monies.
Public accountability measures for the fund should be made available. What are the management fees being paid to Credit Suisse and the venture capital companies? Have the venture participants matched the public funds with their own capital? Which technology companies have received funding? The level of information on www.IndianaFutureFund.com is insufficient.
In general, we should be circumspect of public economic development effortsinvestments made by those not bearing financial responsibility for the outcomeon both the state and national level. In the case of the Indiana Future Fund, mixing the necessities of public pension investment with Indiana bioscience promotion is unwise.