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Former JobsOhio Chief Could Make Millions on OSU Deal

English: The Ohio Union at The Ohio State Univ...

English: The Ohio Union at The Ohio State University (Photo credit: Wikipedia)

Former JobsOhio chief Mark Kvamme and his new business partner might make millions from Ohio State University’s $50 million investment in their new venture capital firm.

Kvamme’s company could make $9 million in fees, $500,000 in expenses, and 20% of future profits from Ohio State’s investment.

Ohio State’s investment was made in part at the recommendation of former Ohio State President E. Gordon Gee, who served with Kvamme on JobsOhio’s board of directors. Kvamme took a salary of $1 a year to serve as the president and chief investment officer for Gov. John Kasich‘s privatized development agency from July of 2011 to November of 2012, having left Sequioa Capital in California to join Kasich in Ohio.

Via The Dispatch.

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