Good day. Venture investors are stepping out this election cycle, rallying vocally behind candidates and funneling financial support to them, garnering more visibility for the whole industry.
Some investors are hoping this open support will translate to more influence when it comes to policy and rule-making.
Vice President Kamala Harris has closer ties to Silicon Valley than President Biden, and her campaign has raised money from investors including Reid Hoffman, co-founder of LinkedIn and an investor at venture firm Greylock. Former President Donald Trump’s running mate, Ohio Sen. JD Vance, is a former venture investor, and the Republican ticket has received backing from venture investors such as David Sacks, co-founder and partner at Craft Ventures.
“There’s definitely increased visibility of the industry,” said Bradley Tusk, chief executive and co-founder of venture firm Tusk Venture Partners, and a political consultant who has publicly said he supports the Democratic presidential ticket.
Both campaigns have “raised a lot more money from VC and they have closer relationships that lead to influence,” Tusk said.
The tech industry and venture capital have gotten much larger in recent years, leading investors to become more outspoken and prominent.