Vice Presidential candidate J. D. Vance completed a financial disclosure form as a member of the Senate. His 2023 form is yet to be filed but his 2022 disclosure shows holdings in two private equity underwriters (PEU), Narya Capital and Revolution's Rise of the Rest. Vance founded Narya Capital and he disclosed that he held limited and general partner stakes in the firm without estimating their value.
While many citizens struggle with daily finances, Vance had multiple high paying "full time" jobs.
Consider the following on Narya Capital. SkyNews reported:
Mr Vance subsequently went to work for Revolution, a VC firm based in Washington DC, before launching his own VC firm, Narya Capital, in 2019.
Financial Review reported on Vance's two private equity positions:
Vance was recruited by AOL co-founder Steve Case for a new venture: a $US150 million Washington-based fund that tapped big investors such as Jeff Bezos and Ray Dalio to jump-start young companies in overlooked American cities.
Narya was backed with about $US100 million from Thiel and a cadre of his acquaintances, including former Google chief executive Eric Schmidt and prominent venture capitalists Marc Andreessen and Scott Dorsey.
Surely these heavy hitters require more than 40 hour a week work. Nope. Axios reported:
Vance and (fellow Narya co-founder) will continue as advisers to Rise of the Rest, which raised its second fund of $150 million in October.
Vance also holds stakes in Narya affiliates as well as dozens of other private companies.
Many Narya affiliates are direct or indirect recipients of federal programs. His next report is due by August 13, 2024.
J. D. informed his party and the viewing public that he will not forget his roots. Neither will former Blue Team Senator Kyrsten Sinema, who saved PEU preferred "carried interest" taxation.
Neither Vance nor Sinema will return to their hard scrabble days. They swim comfortably in our great money wash.
Politicians Red and Blue love PEU and increasingly, more are one.
Update: WaPo wrote about tech bros sudden love for Trump and the Red Team. The Guardian did as well.
A Narya Capital affiliate is helping determine property values for Tom Green County, Texas.