Barbers turn to other barbers when they need a trim. Doctors consult other doctors when they get inexplicable aches and pains. And lawyers — well, we all know the adage about the wisdom of lawyers who represent themselves.
But what about venture capitalists, the people who provide seed funding to early-stage companies with big ideas but small, or even nonexistent, bank accounts? Where do venture capitalists go to get venture capital?
They look to other venture capitalists, of course.
In 2005, the state of Ohio created the Ohio Capital Fund — “a fund of funds” — to help promote and facilitate that process. Simply put, the Ohio Capital Fund issues taxpayer-backed bonds to raise private money to invest in other venture-capital funds, in Ohio and elsewhere. Those funds, in turn, invest in fledgling companies.
The only caveat: At least half of the Ohio money has to go to fledgling companies in Ohio.
To read the full, original article click on this link: Ohio fund supports venture-capitalist investments | The Columbus Dispatch
