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'Not All VCs Have Turned MAGA'— Tech VC’s Bold Support for Kamala Harris
dot.LA Weekly Update
Christine Rothacker
August 02, 2024
🔦 Spotlight
Happy Friday Los Angeles!
Image Source: Politico
Several prominent tech investors, including Mark Cuban, Reid Hoffman, Vinod Khosla, and Spencer Rascoff of 75 and Sunny, along with more than 500 others have endorsed Vice President Kamala Harris for the 2024 presidential election through an initiative led by Seattle investor John Schilling. This pledge, which also includes key LA-based firms like Backstage Capital, Bonfire, MaC Venture Capital, and Upfront Ventures, signals a unified effort among tech leaders to support Harris's candidacy. The pledge highlights their commitment to pro-business and pro-entrepreneurship values while emphasizing the importance of democratic institutions.
The pledge states: “We the undersigned are Venture Capital investors, founders and tech leaders who pledge to vote for Kamala Harris in the 2024 election. We spend our days looking for, investing in and supporting entrepreneurs who are building the future. We are pro-business, pro-American dream, pro-entrepreneurship, and pro-technological progress. We also believe in democracy as the backbone of our nation. We believe that strong, trustworthy institutions are a feature, not a bug, and that our industry - and every other industry - would collapse without them. That is what’s at stake in this election. Everything else, we can solve through constructive dialogue with political leaders and institutions willing to talk to us. In this pivotal moment, we are united in our support for Vice President Kamala Harris. We invite you to join us.” Additionally, the pledge clarifies, “This pledge is not a declaration of your politics or party alignment. It just means you intend to vote and support Harris for President in this election.”
For Los Angeles, this initiative highlights a significant shift in how tech leaders are engaging in political advocacy. With LA being a major center for innovation and venture capital, the involvement of these high-profile investors and firms signals a powerful alignment against conservative trends and states “Let’s show founders that not all VCs have turned MAGA,” reflecting a broader trend of progressive political support in the tech industry.
🤝 Venture Deals
LA Companies
ZeroTier, a network security startup, raised a $13.5M Series A led by Battery Ventures, with Bonfire Ventures, Anorak Ventures, Grand Enterprises B.V., Airbridge Equity Partners and First In Ventures also participating. - learn more
Look North World, a video game studio and publisher dedicated to the Creator platforms, raised an additional $2.25M Seed Funding led by London Venture Partners and others. - learn more
The Bouqs Company, a DTC floral delivery company, raised a $23M in funding led by CrowdOut Capital. - learn more
LA Venture Funds
Supply Change Capital led a $3.5M Seed Round for Terrantic, a two-year-old Seattle startup whose platform helps growers, packers, and food processors optimize yield, throughput, and quality by analyzing existing data. - learn more
March Capital participated in a $200M Series C for Altana, a supply chain monitoring company. - learn more
B Capital led a $4.6M Seed Round for When, a benefits transition startup. - learn more
Mantis Venture Capital participated in a $20M Round Extension for Haus, a startup whose marketing measurement platform uses causal attribution to determine the effectiveness of marketing efforts. - learn more
Caden Capital Partners participated in a $45M Series C for Rhombus, a startup whose platform enables businesses to deploy and manage security devices, offering features like real-time notifications and advanced analytics while also integrating with existing systems. - learn more
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