Decision 2024

Silicon Valley venture capital money pours into presidential campaigns

NBC Universal, Inc.

Money from Silicon Valley's venture capital community has been flowing into both sides of the presidential race.

As Vice President Kamala Harris rallies support, venture capitalists and executives like Victoria Watkins have been rallying for her.

"She wants this country to continue to thrive and move forward, and that's exactly what VC is," Watkins said. "It's finding new ways and innovative ways for the country and people and all the things that we use to move forward."

Silicon Valley executives have been rallying on social media and beyond to raise money and register voters.

"Sensible businesspeople like stability," Grab Your Wallet President Shannon Coulter said. "They know that Trump is a chaos agent, and they're rightly afraid of that. I think they are working to protect stability and democracy. Many of them are very outspoken about that, and I love that."

VC support goes both ways in this race, with many prominent Republicans lining up with former VC and new GOP vice presidential candidate JD Vance.

"This is the most beautiful place in the country. I think it's worth saving," lawyer and Republican party official Harmeet Dhillon said. "I'm so glad to see so many of the tech leaders agree that we need to make changes in our country to make California great again."

Harris' campaign said in the first day and a half since President Joe Biden announced his endorsement, they raised upwards of $100 million.

"I believe she's extremely smart, she knows how to work across the line, and it seems that she's somebody that loves people," Knightsbridge Advisers analyst Louide Henri said. "If she has that as president, I believe it will be a smarter working relationship with Silicon Valley."

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