Jump to content

TNInvestco

From Wikipedia, the free encyclopedia

This is the current revision of this page, as edited by Monkbot (talk | contribs) at 17:40, 17 December 2020 (Task 18 (cosmetic): eval 4 templates: del empty params (1×);). The present address (URL) is a permanent link to this version.

(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)

TNInvestco is a US$200 million investment fund run by the State of Tennessee. Founded in 2009, its aim is to invest in the state economy and create jobs for Tennesseans.[1]

History

[edit]

TNInvestco was established in 2009 by Matt Kisber, the commissioner of the Tennessee Department of Economic and Community Development, and Reagan Farr, the Commissioner of the Tennessee Department of Revenue.[2]

By 2012, state auditors found "pervasive noncompliance with program requirements," leading to possible "risk of fraud, waste and abuse."[1]

TNInvestco invested in Council Capital, a private equity and venture capital healthcare firm based in Nashville.[3] In 2014, it invested US$750,000 in Digital Reasoning, an intelligence firm headquartered in Franklin, Tennessee.[4]

References

[edit]
  1. ^ a b Smith, Ellis (November 14, 2012). "Auditors blast $200 million TNInvestco program". Chattanooga Times Free Press. Chattanooga, Tennessee. Retrieved November 13, 2015.
  2. ^ "TNInvestco". Tennessee Department of Economic and Community Development. Retrieved November 13, 2015.
  3. ^ Nannie, Philip (November 29, 2011). "Council Capital invests in Payment America". NashvillePost.com. Retrieved November 13, 2015.
  4. ^ McGee, Jamie (October 9, 2014). "When crisis strikes, Digital Reasoning takes action". The Tennessean. Retrieved October 7, 2015.