Monday, April 03, 2006

VCs paid $1M by Golden Leaf - Triangle -

"Venture capitalists hired by the Golden Leaf Foundation have been paid almost $1 million in management fees to oversee a foundation investment that's yet to put any money into a North Carolina company.
Moreover, the managers who run Switzerland-based HBM BioCapital will continue to draw a 2 percent annual fee on Golden Leaf's investment commitment of $30 million as long as the VC has the money under management. "

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