360° Coverage : An Unhealthy Funding Event

2 Updates

An Unhealthy Funding Event

May 14 2014, 12:53pm CDT | by

Ahh. One’s gotta love the yin-yang of it all. Today, the Twitter trumpet Launchticker touted the $80M round of financing for Oscar Health Insurance, founded by New Jerseyan Joshua Kushner of Thrive...

Filed under: news

 
 
 

15 weeks ago

An Unhealthy Funding Event

May 14 2014, 12:53pm CDT | by

Ahh. One’s gotta love the yin-yang of it all. Today, the Twitter trumpet Launchticker touted the $80M round of financing for Oscar Health Insurance, founded by New Jerseyan Joshua Kushner of Thrive Capital who’s the brother of Jared Kushner, owner of the NY Observer and husband of Ivanka Trump, daughter of The Donald, the perennial faux GOP presidential candidate…but I digress.

Oscar Health Insurance, founded by @JoshuaKushner, raises $80M round @ $800M valuation http://t.co/7aHFlJ8bNK pic.twitter.com/OcW7pBbBwE

— launchticker (@launchticker) May 14, 2014

Separately but not unrelatedly, the investigative team at PandoDaily revealed:

“This past weekend, Pando has been reporting on the rapidly growing scandal over New Jersey handing millions of dollars of public pension money to VC firm General Catalyst after a partner in the firm, Charles Baker, made a sizable donation to governor Chris Christie’s state party.”

Apparently, after receiving a $1o,000 campaign donation to the NJ GOP State Committee from Mr. Baker who happens to be the GOP Gubernatorial candidate in Massachusetts, the Christie Administration moved its pension funds into the Mr. Baker’s company’s venture fund, earmarked specifically for Mulberry Health, the parent company of Oscar Health Insurance on whose boards Mr. Baker sits.  From Pando:

“According to documents filed with the New York State Department of Finance and obtained by Pando, the private equity partnership General Catalyst Group VI “has 2.60% of the voting control” of Mulberry Health, which, according to the same documents, is the parent company of Oscar Insurance. Securities and Exchange Commission documents show that Baker is on the board of Mulberry Health, while General Catalyst’s website notes that Baker also serves on Oscar Insurance’s board.”

Just as Mr. Kushner is touting the funding of Oscar Health Insurance, giving it a valuation of $800 million, the company finds itself in a rather sticky wicket, which was not lost on the Boston Globe in its piece today titled “Baker oversaw firm where pension funds were invested.”

Happy to see The Globe credit Pando for its reporting:

“The technology news website PandoDaily first reported Tuesday on the connection between the New Jersey funds and Oscar, where Baker serves as director. The website last week brought to light Baker’s donation to Christie and the New Jersey pension fund’s subsequent commitment to Baker’s firm.”

Maybe there’s a new state motto in the pipeline:

“New Jersey: Its Corruption Is Infectious”

 
Update
2

1 day ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforce of 20,000 by 3 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

2 days ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the d ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

For DINK couples, outsourcing parenthood is cool
New York, Aug 31 (IANS) For double-income-no-kid (DINK) couples, raising a child is the most difficult part. For them, creches and day-care centres in the marketplace are no less than playing the role of real parents.
 
 
Ancient metal workers were not treated as slaves
London, Aug 31 (IANS) Ancient metal workers were highly regarded for their skills and were not treated as slaves as popular narratives suggest, says a study.
 
 
Five new monkey species discovered
London, Aug 31 (IANS) Conservationists have discovered five new monkey species in South America that have, since, been added to the animal record books.
 
 
Soon batteries to run on sugar
New York, Aug 31 (IANS) In a breakthrough to develop long-lasting batteries for smartphones and other gadgets, scientists have successfully created a sugar biobattery that completely converts the chemical energy in sugar substrates into electricity.
 
 
 

Latest from the Network

Abe glad Modi visited Kyoto
Kyoto, Aug 31 (IANS) Japan Prime Minister Shinzo Abe Sunday said he was happy his Indian counterpart Narendra Modi toured the country's ancient capital Kyoto. "I am very glad that Modi enjoyed the cultural heritage of...
Read more on Politics Balla
 
Modi leaves for Tokyo
Kyoto, Aug 31 (IANS) Indian Prime Minister Narendra Modi departed for Tokyo Sunday evening, on the second day of his five-day visit to Japan. "Goodbye Kyoto," the external affairs ministry spokesman tweeted, as Modi...
Read more on Politics Balla
 
For DINK couples, outsourcing parenthood is cool
New York, Aug 31 (IANS) For double-income-no-kid (DINK) couples, raising a child is the most difficult part. For them, creches and day-care centres in the marketplace are no less than playing the role of real parents...
Read more on Celebrity Balla
 
Philippines seeking defence ties with India after China's moves
Manila, Aug 31 (IANS) Worried over increasingly aggressive moves of China to stake claim on disputed reefs in the South China Sea, the Philippines is looking at establishing defence cooperation with allies, including...
Read more on Politics Balla
 
Ancient metal workers were not treated as slaves
London, Aug 31 (IANS) Ancient metal workers were highly regarded for their skills and were not treated as slaves as popular narratives suggest, says a study. In the course of ongoing excavations at Timna Valley in...
Read more on Apple Balla
 
World Cup is all that matters, not rankings: Clarke
Melbourne, Aug 31 (IANS) Australia cricket captain Michael Clarke feels all that matters is winning the World Cup and not the rankings. Australia are currently the No.1 ranked ODI team followed by India and South...
Read more on Sport Balla
 
Kim's daughter to follow her beauty ritual soon?
Los Angeles, Aug 31 (IANS) It seems like reality TV star Kim Kardashian's 14-month-old daughter North will take after her mother when it comes to maintaining a strict beauty routine as the little one already likes...
Read more on Celebrity Balla
 
Britney Spears' ex banned from contacting her?
Los Angeles, Aug 31 (IANS) Britney Spears' ex-boyfriend David Lucado wants to have one last conversation with the singer, but her team, led by father Jamie Spears, is reportedly blocking him from contacting her....
Read more on Celebrity Balla
 
Five new monkey species discovered
London, Aug 31 (IANS) Conservationists have discovered five new monkey species in South America that have, since, been added to the animal record books. The five new species were found in locations in Brazil, Peru and...
Read more on Apple Balla
 
Soon batteries to run on sugar
New York, Aug 31 (IANS) In a breakthrough to develop long-lasting batteries for smartphones and other gadgets, scientists have successfully created a sugar biobattery that completely converts the chemical energy in...
Read more on Apple Balla