Who's going to make the investment decisions? Civil servants? Ouch. Instead of setting up their own fund, the government should just be an LP in a good VC fund. If they'd take the money.
But does the government have right skills to actually be a limited partner? Again it may come down to their inability to decide on the right funds to be LPs in.
On the other hand if it choose to go through a fund-of-funds that may help. But are there many FoFs that actually invest purely in tech?
Why not 2bn or 10bn? I wish people would understand that this money will come at the expense of someone else, probably through inflation and a greater debt burden.
This is absurd. Perhaps they can also publish a 5-year plan.