Nevada launches $50 million Silver State Opportunity Fund

The Nevada Capital Investment Corp. on Wednesday unanimously approved a contract with Hamilton Lane, a private equity fund-to-funds manager, to run its $50 million Silver State Opportunity Fund LLC.

Hamilton Lane will be responsible for developing an investment plan and selecting private equity funds and venture capital that will invest in Nevada.

By Chris Sieroty
LAS VEGAS REVIEW-JOURNAL

Full Story: http://www.lvrj.com/business/nevada-launches-50-million-silver-state-opportunity-fund-164649146.html

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Why one Nevada official alone had autonomy to decide Apple’s tax breaks

What is believed to be the largest tax abatement deal in state history that promises to bring an Apple data center to Reno began in a cheese factory.

Gov. Brian Sandoval and his economic development director, Steve Hill, were on a tour at Reno’s Pacific Cheese Co. to promote the governor’s economic development plan when Hill received a call that Apple was in town. Company executives were interested in locating in Northern Nevada and wanted to meet.

It was, coincidentally, a few hours after Sandoval presented his plan to diversify Nevada’s economy in February.

By David McGrath Schwartz

Full Story: http://www.lasvegassun.com/news/2012/aug/02/why-one-nevada-official-had-autonomy-decide-apples/