AUSTIN, Texas (AP) — Gov. Rick Perry’s pet fund that gives taxpayer dollars to high-tech Texas startups is leaving room for $6 million in potential losses due to troubled investments, according to a new state report.

The allowance for bad debts is a drain on the value of the Texas Emerging Technology Fund, which Perry calls an economic sparkplug but that critics have blasted because of its performance and politics. An annual report released last week shows that barring the state getting its money back from failed projects, the fund now stands at $2.4 million above what the state has put in — down from $4.6 million a year ago.