RESEARCH TRIANGLE PARK – The venture capital industry has made quite clear its preference in the US presidential race in one-side action – and setting records as well.
It’s Joe Biden, not Donald Trump.
“The 2020 elections seem to have struck a nerve with venture capitalists. Political donations from the VC industry have reached a record $69.7 million in the 2020 election cycle as of October 23, according to the Center for Responsive Politics, a nonprofit that tracks campaign finance data. That total was nearly double the previous record of $37 million spent by the industry during the 2016 election,” reports private equity and VC news website PitchBook.
“As the donations have grown, they’ve also become bluer: Democratic candidates and organizations received 79% of the funds contributed by the VC industry, up from 70% in the 2016 election cycle, Center for Responsive Politics data shows.”
Among the big donors:
- Revolution CEO Steve Case
- SV Angel founder Ron Conway
- Sequoia partner Michael Moritz
