360° Coverage : An Unhealthy Funding Event

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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...

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11 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
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakyat was told toda ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broke ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by the Dewan Rakyat t ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hishammuddin ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the sou ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

8 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2. ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

8 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister D ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

8 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allocation o ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

8 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramada ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

8 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara Skyway ( ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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