About the Nevada Capital Investment Corporation
The Nevada Capital Investment Corporation (NCIC) is a nonprofit board tasked with hiring professional fund-of-funds managers who will seek private equity funds that invest in Nevada businesses utilizing up to $50 million from the state’s Permanent School Fund, an endowment fund created in the State Constitution. Interest earnings from the investment of the Permanent School Fund are dedicated to support K-12 education in this state.
The primary purpose of the NCIC is to increase funding for Nevada K-12 schools and students by adopting an investment policy for these private equity investments based primarily on rate of return, with the secondary objectives of diversifying Nevada’s economic base, resulting in the creation of new jobs in Nevada.
The nonprofit NCIC Board is comprised of the State Treasurer and one appointment each by the Governor, Senate Majority Leader, Senate Minority Leader, Speaker of the Assembly, Assembly Minority Leader, and the Chancellor of the Nevada System of Higher Education.