What is it about politics and VCs?
Another VC has come out and said he is exploring a political run. The Detroit Free Press has the in-depth story.
Rick Snyder, founder and CEO of Ann Arbor, Mich.-based investment firm Ardesta (which seems to focus on seed stage deals in MEMS and nanotech), says he is considering running for Michigan governor.
If he goes through with it, Snyder would become the latest of several current and former venture investors to seek or accept appointments to political office in recent months.
Others include Small Business Administration Administrator Karen Mills; Pennsylvania Treasurer Rob McCord; and Federal Communications Commission Chairman Nominee Julius Genachowski.
The Democrat and former software entrepreneur is running against James Tedisco, the minority leader in the New York State Assembly. The two are vying for the seat formerly occupied by Kirsten Gillibrand, who accepted an appointment to fill Hillary Clinton’s senate seat.
Murphy told my cohort Joanna Glasner that the economic climate may be a factor in the trend of investors turning to politics, as VCs seek to apply business know-how to public policy.