Venture capital audits show state stake drawn into Ad Astra funds
In OPERA Kansas, Campbell Becker's seed fund Ad Astra and Ad Astra II report rising costs and declining asset values since 1991. Audits show total expenses exceeding revenues by over 557,000 dollars and 1996 investment value near 3.5 million while the state owns about 72 percent of the funds. The Legislature weighs public involvement and the risks of patient capital amid the J Curve pattern.
MENTIONED IN THIS ARTICLE
Associated Press
Opera, Kan
Sam Campbell
Charles Becker
Lawrence
Campbell-Becker
Ad Astra
Ad Astra II
Campbell
Bae Eniedeated
Sam
Gary Sherrer
Commerce and Housing
Ad Astra Fund
Audits detail Ad Astra funds valued and challenged
In Topeka, audits obtained through an attorney discuss the Ad Astra venture funds run by the Kansas Technology Enterprise Corp. Valuations used conservative costs or last investor values, with note that venture-capital estimates are volatile. Officials say true value is uncertain, but potential returns could emerge as early as 18 months.
MENTIONED IN THIS ARTICLE
Topeka
Kan
Ad Astra
Ad Astra Il
Campbell-Becker
Ad Astra Fund
Campbell
Kansas Technology Enterprise Corp
Embree
Lawrence
Mize, Houser and Co
Sherrer
Commerce
Joint Committee On Economic Development
Kansas venture network draws scrutiny amid complexity
Lawrence resident Jacob Maczuga leads the Kansas Innovation Corp and Kaw Holdings while Raw Inc. helps startups. The state backed seed and venture capital system, including KTEC and Ad Astra funds, faces criticism for its intricate structure and accountability challenges. Government and industry officials defend the model as necessary to attract private investors and sustain high tech growth.
MENTIONED IN THIS ARTICLE
Opera, Kan
Jacob Maczuga
Lawrence
Maczuga
Kansas Innovation Corp
Kaw Holdings
Raw Inc
House
Tom Sawyer
Wichita
Bill Graves
Kansas Technology Enterprise Corp
Bill Mason
R-El Dorado
Joint Committee On Economic Development
KTEC
Rich Bendis
Ad Astra
Ktec Holdings
Technology Partners
Sam Campbell
Campbell-Becker
Bendis
Also Mentioned on This Page
Wayne Embree
Cascadia Pacific Management
Oregon
Attor Ae Stovall
John Hanna
Cascadia Pacific Management Partnership
Ohio
Pennsylvania
Nike
Joannett
Tildton
Bors
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