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

 
 
 

18 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

3 weeks 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 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

3 weeks 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 ...
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

Israel approves rebuilding plan for communities near Gaza
Jerusalem, Sep 21 (IANS) The Israeli cabinet Sunday approved a $360 million development initiative for the communities in the country's south, near the Gaza border, who were hit hard in the recent bloody conflict between Israel and the Hamas.
 
 
High-level Indian ministerial visits to London next month
London, Sep 21 (IANS/RAY) India's Finance and Defence Minister Arun Jaitley is scheduled to visit London Oct 13-14 for an interface with financial institutions to persuade them to invest in India.
 
 
Expressway to link Vietnam and China opens
Hanoi, Sep 21 (IANS) Vietnam's longest expressway connecting Noi Bai in capital Hanoi and the north-western Lao Cai province, bordering China, with a total length of 245 km, officially opened to traffic Sunday.
 
 
G20 deal on sharing bank data to help India battle black money
Cairns (Australia) Sep 21 (IANS) In a major step that will aid India track and recover black money stashed abroad, G20 finance ministers Sunday agreed on allowing automatic sharing of all bank information with tax authorities at the end of each year, starting 2017.
 
 
 

Latest from the Network

Nicolas Cage buys haunted house for horror novel
Nicolas Cage once bought a haunted house. The 50-year-old actor snapped up a mansion in New Orleans previously owned by Madame LaLaurie, who's known for the torture and murder of slaves, in the hope of gaining...
Read more on Celebrity Balla
 
Kerry Washington: Motherhood is 'wonderful'
Kerry Washington thinks motherhood is ''wonderful.'' The 37-year-old actress welcomed her first child Isabelle Amarachi into the world with her husband Nnamdi Asomugha in April and is enjoying watching the little one...
Read more on Celebrity Balla
 
Thousands protest in Moscow against Russian intervention in Ukraine
Moscow, Sep 22 (IANS/EFE) Tens of thousands of people demonstrated Sunday in downtown Moscow against the war in neighbouring Ukraine and, in particular, against the Kremlin's support for the pro-Russian rebels there...
Read more on Politics Balla
 
Pregnant Alicia Keys posts nude photo for a cause
Los Angeles, Sep 22 (IANS) Singer Alicia Keys posted a nude photo of her naked and pregnant belly with peace sign painted on the baby bump to draw eyes to a charity movement. The peace sign painted on the 33-year-old'...
Read more on Celebrity Balla
 
51 militants killed in clashes across Afghanistan
Kabul, Sep 22 (IANS) At least 51 Taliban militants have been killed in fresh military operations across Afghanistan since Saturday, the country's interior ministry said Sunday. "Afghan National Security Forces (ANSF)...
Read more on Politics Balla
 
Syria warns of chemical attack by rebels
Damascus, Sep 22 (IANS) Syria's foreign ministry Sunday warned that the opposition rebel groups may prepare to launch a chemical attack in Syria to frame its army. The ministry warned that the rebels may stage an...
Read more on Politics Balla
 
Nicolas Cage vomited on prom date
Nicolas Cage vomited on his prom date. The 50-year-old actor admits he was riddled with embarrassment when he took a stunning young lady to his school dance as a youngster and his excitement became too much when they...
Read more on Celebrity Balla
 
Jessica Simpson is 'sexier' as a wife
Jessica Simpson feels ''sexier'' as a wife. The 34-year-old singer admits she views herself in a different light since tying the knot with her beau Eric Johnson, with whom she has two-year-old daughter Maxwell and 14-...
Read more on Celebrity Balla
 
Vanessa Hudgens concerned for career after hacking scandal
Vanessa Hudgens is reportedly concerned her career will suffer as a result of the recent hacking scandal. The 25-year-old actress - who had naked photos of herself leaked online in 2007 - may have been targeted for a...
Read more on Celebrity Balla
 
Yemeni PM resigns amid deadly clashes in capital
Sana'a, Sep 21 (IANS) Yemeni Prime Minister Mohammed Basindawa resigned Sunday amid week-long deadly clashes between the army and Shia rebels here in the capital, a media report said. Basindawa informed the president...
Read more on Politics Balla