Last November, U.S. Senate candidate Democrat Katie McGinty came close to taking over Sen. Pat Toomey’s seat, narrowly losing that shot by a margin of 1.5 percent (or around 86,000 votes.)
Up until now, the former Chief of Staff to Gov. Tom Wolf had kept a relative low profile (save for the occasional Trump-bashing tweet or public appearance) but McGinty’s next move has now been made clear: she’ll be entering the venture capital world by way of University City-based Militia Hill Ventures, a venture firm with a life sciences focus that just named McGinty as a partner.
Joan Lau, the firm’s founding managing partner, called McGinty a “powerful asset” for the company’s vision and praised the former candidate’s “operational background, national network and knowledge of the many strengths we have here in Pennsylvania.”
McGinty, who was on NRG’s board of directors for three years, said her work will be geared towards raising the state’s profile as a hub for vanguard technology like immunotherapy and gene therapy.
“First, we seek the best of the best in science and technology that can deliver relief to patients and cures for devastating diseases,” McGinty said. “Second, we establish fast-growing companies in Greater Philadelphia, leading them through development and the regulatory approval process.”
Her public background focuses mainly on environmental issues. She was the first woman to chair the White House Council on Environmental Quality during President Bill Clinton’s administration. McGinty also served as Secretary of Environmental Protection under Governor Ed Rendell.
Militia Hill Ventures is based out of One Drexel Plaza, which also houses collaborative health care space PLEXUS. If McGinty was looking to tap into Philly’s pool of innovation, University City seems like a good place to start.
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