Failed Senate Candidate Katie McGinty Goes Back to Private Sector
Failed Democratic Senate candidate Katie McGinty has rejoined the private sector as a partner at a pharmaceutical-focused investment firm, according to an announcement by company Militia Hill Ventures.
McGinty, who failed to unseat Pennsylvania Republican Sen. Pat Toomey despite about $65 million that was spent on her behalf by outside groups, had not made any indication of her plans following her election loss.
— MilitiaHill Ventures (@MHVentures) April 18, 2017
The decision to join a pharmaceutical company, however, comes as a surprise given McGinty’s previous work in the green energy industry.
Prior to her unsuccessful entrance into politics, McGinty held lucrative board of director positions at renewable energy giants NRG Energy and Iberdrola.
McGinty got her start in politics as a staffer in former President Bill Clinton’s administration, where she ended up chairing the White House Council on Environmental Quality and building a relationship with green energy zealot Al Gore.
She then went on to become secretary of Pennsylvania’s Department of Environmental Protection, where she built relationships with the green energy companies that later employed her.
McGinty left the green energy industry to run for governor in 2014, where she placed fourth in the Democratic primary but ended up being named chief of staff for eventual winner Gov. Tom Wolf (D.). She left the chief of staff position after she was recruited by the Democratic establishment to run for Senate against Toomey.
Militia Hill Ventures has three pharmaceutical companies—Talee Bio, Immunome, and Tcera—listed on its public portfolio.
Last summer, it publicly urged Pennsylvania state officials to make investments in the biopharmaceutical and medical device sector. The hiring of McGinty, a former state official and a close ally of Gov. Wolf, appears to have been made with a goal of making inroads for the company in Pennsylvania.
“Katie’s operational background combined with her national network and first-hand knowledge of the many strengths we have here in Pennsylvania will help us further establish our firm and region as leaders in creating and growing promising new life sciences companies,” the company said in its announcement.
The company also celebrated McGinty’s “academic background in chemistry.”