Politics & Government

October 14, 2010 7:39 AM

Tech fund Texas Gov. Perry's office oversees gives $4.5 million grant to friend's company

Gov. Rick Perry said Wednesday that a campaign donor who went around the typical vetting process but still landed a multimillion-dollar grant from the Texas Emerging Technology Fund is a close, personal friend -- as many Texans are. The technology fund, created in 2005 by the Legislature and overseen by the governor's office, invests public money in startup companies with potential. The fund has given out nearly $175 million to more than 100 companies.

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