Kamala Harris Gains Support From 866 VCs Representing $276 Billion in Assets

As she campaigns, a wave of high-powered support has rallied behind Vice President Kamala Harris. Eight hundred sixty-six venture capitalists, collectively representing $276 billion in assets, joined the "VCsForKamala" initiative. This unusual backing includes notable tech industry figures such as Mark Cuban, Reid Hoffman and Vinod Khosla, who are endorsing her economic and entrepreneurial vision for America, according to a recent report from Business Insider.

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The surge of private sector and tech industry support aims to highlight Harris’s pro-business, pro-innovation platform. The momentum intensified after prominent executives signed a letter endorsing Harris's vision for a stronger, business-forward economy. The push represents an effort by Silicon Valley to return its focus to technological progress and democracy as the backbone of the U.S.

Through "Business Leaders for Harris," tech moguls and corporate executives are drawing attention to Harris’s proposed economic strengths, emphasizing her plans for economic growth, entrepreneurship and market stability.

The backing for Harris from venture capitalists isn't just about campaign contributions; it's a strategic move by Silicon Valley to emphasize her pro-business, pro-innovation policies in an election where economic stability and market confidence are top concerns. With more than 800 venture capitalists coming together under "VCsForKamala," this coalition brings weight to her platform, reinforcing that it aligns with the priorities of America's tech and investment communities. 

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As part of the movement, figures like Reid Hoffman, LinkedIn cofounder and Vinod Khosla, a tech investor heavyweight, show that Harris's stance on democracy and economic policies aligns with the sector’s long-term vision. According to the founders of VCsForKamala, Harris's appeal lies in her commitment to nurturing a pro-entrepreneurial environment.

Another powerful endorsement came from a collective letter signed by 88 leaders across Wall Street and Silicon Valley, noting that Harris represents the "best way to support the continued strength, security and reliability of our democracy and economy." This endorsement also sheds light on Harris's support for small businesses – a segment often vulnerable to policy changes.

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The efforts to mobilize support for Harris go beyond Silicon Valley. "Business Leaders for Harris," launched in October, appeals to more conservative-leaning voters by spotlighting Harris's track record on economic issues. The initiative aims to build bipartisan appeal, emphasizing Harris's commitment to economic growth and the belief that a stable democracy creates a healthy business environment. 

For many of these venture capitalists and corporate leaders, backing Harris is also a way to counter other Silicon Valley figures, such as Elon Musk and Marc Andreessen, who have openly supported Donald Trump. This divide within Silicon Valley shows the evolving landscape of political allegiance in the tech world. Where some tech moguls rally behind Trump's deregulatory promises, the VCsForKamala coalition sees Harris's approach as more sustainable for long-term growth and stability, a BI report found.

According to The New York Times, Harris amassed nearly $1 billion in campaign funding between July and September. This influx of support from tech leaders and venture capitalists bolsters her standing as a formidable candidate with deep-rooted support from some of the nation's wealthiest and most influential business minds.

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