Kamala Harris’ VC Supporters Raise $150,000 in Fundraising Zoom Call

The Rise of VCs for Kamala: A New Wave of Political Support in Tech

In late July, a single tweet ignited a movement within the tech community that gave a voice to many disillusioned venture capitalists. Leslie Feinzaig, founder of Graham & Walker, sparked interest in a new group called "VCs for Democracy" with her tweet: "Gonna start ‘VCs for Democracy,’ who’s in?" The response was overwhelming, as over 1,300 individuals, including 750 accredited investors, joined in what would evolve into a focused effort to support Vice President Kamala Harris's presidential campaign.

Fundraising Success and Community Engagement

On a recent hour-long Zoom call, the group successfully raised $150,000 in support of Harris, with participation peaking at 600 attendees. Notably, the donations surged during the call, with $100,000 generated from 97 donors and a $50,000 match provided by Ron Conway, founder of SV Angel. This brought the total raised to about $176,000 when combined with earlier pledges.

• Total Raised: Approximately $176,000
• Donors on the Call: 97
• Attendees: Up to 600

A New Trend in Political Organizing

This initiative reflects a broader trend of political organizing via virtual platforms like Zoom. Similar successful calls have recently attracted tens of thousands of participants, including a significant event for Black women supporting Harris. Feinzaig pointed out that while this call might have had a smaller audience, the overlapping interests suggest a deep commitment to progressive causes.

Political Views and Perspectives from the VC Community

The participating VCs voiced a mix of enthusiasm and frustration during the call, particularly targeting the stark contrast in political views present within the venture capital landscape. Some members expressed concern over the perception that their community leans towards supporting candidates like Donald Trump, particularly after recent endorsements from Andreessen Horowitz's founders.

Addressing Misconceptions in the Industry

During the discussion, speakers addressed the misconception that supporting Harris is akin to anti-capitalism. Stephen DeBerry, founder of Bronze Investments, emphasized that the VCs involved in the campaign are far from opposed to profits. His arguments highlighted the importance of maintaining a regulatory environment that prevents the concentration of wealth and assures competitive markets.

The Intersection of Politics and Investment

Roy Bahat, venture capitalist at Bloomberg Beta, presented a unique pitch deck comparing political candidates to the business landscape. His deck illustrated that a successful political outcome is just as dependent on strategic execution as it is on funding. He cleverly placed images of Trump in the "Unstable" category and generated humor and discussion with a coconut emoji representing stability.

Conclusion: A Thoughtful Approach to Political Engagement

Feinzaig, who maintains a neutral political stance, encouraged VCs to contemplate the potential futures that could stem from their support of candidates. She posited that the world should align with visions of progress and development, rather than fears of regression. This discussion not only energized participants towards Harris's campaign but also served as a call to reevaluate the political landscape and the tech community's role within it.

Future Engagement and Implications

As the campaign unfolds, the engagement from tech leaders like Feinzaig suggests a significant shift towards a more active role for venture capitalists in political discourse. This movement reflects a growing realization that investment is intrinsically linked to the socio-political environment, and the future of tech innovation may depend on the paths chosen today.

For further insights on political trends within the venture capital space, explore TechCrunch or follow updates on LinkedIn.