   |
 |
Girl Power: Kamie Halfmann's Track Career is Off and Running 5/24/13
4th Bankruptcy in Perry's Tech Fund Adds to Losses 10/23/12
Associated Press
October 23, 2012
AUSTIN, Texas (AP) - A fourth Texas high-tech startup that received taxpayer money through Gov. Rick Perry's signature economic development fund has filed for bankruptcy.
Bioenergy producer Terrabon Inc.'s bankruptcy filing in a Houston federal court last month raises the possibility that the state's Emerging Technology Fund may be worth less than what taxpayers have invested in it.
The venture-capital-like fund invests in Texas-based high-tech startups.
Terrabon was backed by big Perry political donors and critics questioned the state's decision to award the company $2.75 million in 2010.
Terrabon's bankruptcy marks the biggest loss yet for the tech fund's $194 million portfolio and brings the total amount of failed investments to $5.25 million.