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Venture capital\u00a0investors Marc Andreessen and Ben Horowitz plan to donate a significant\u00a0amount to Donald Trump\u2019s campaign for president, according to a person familiar with their plans, making the famous VC duo the latest tech investors to throw their support to the Republican.\u00a0<\/p>\n
The leaders of the eponymous Silicon Valley firm Andreessen Horowitz are still evaluating which Trump-affiliated organization or organizations to back\u00a0and will make the decision shortly, said the person, who asked to remain anonymous discussing private information. The donations will be\u00a0personal contributions from the two men, not from the firm itself. And they won\u2019t be as substantial as the\u00a0$45 million a month<\/a>\u00a0billionaire Elon Musk has said he will contribute to Trump\u2019s election. Other partners at the firm are also considering making their own contributions, the person said.\u00a0<\/p>\n Andreessen Horowitz, one of the best-known firms in tech, has become more\u00a0enmeshed in politics<\/a>\u00a0in recent months. The firm has been stepping up its Washington lobbying footprint, and\u00a0last year<\/a>\u00a0Horowitz\u00a0wrote\u00a0<\/a>that its partners\u00a0would seek to back candidates who support an \u201coptimistic, technology-enabled future\u201d and oppose \u201cmisguided\u201d tech regulations. In June,\u00a0Andreessen spoke at a Trump\u00a0fundraiser.<\/a><\/p>\n The Information earlier\u00a0reported<\/a>\u00a0some details of the donations.\u00a0<\/p>\n Andreessen and Horowitz, who made fortunes by helping grow tech startups into behemoths,\u00a0wrote<\/a>\u00a0a blog post earlier this month lamenting that the American government is now \u201cfar more\u00a0hostile to new startups than it used to be.\u201d Andreessen has also sounded\u00a0the alarm<\/a>\u00a0about the impact of regulations on cryptocurrency and artificial intelligence \u2014\u00a0areas where some expect Trump to be more friendly to the industry.\u00a0<\/p>\n The investors join a long line of prominent figures in tech and finance who are now backing Trump. The candidate has won endorsements from Musk, Sequoia Capital investor\u00a0Shaun Maguire and VC David Sacks, who hosted a San Francisco fundraiser for Trump that brought in $12 million.<\/p>\n Crypto billionaires Cameron Winklevoss and Tyler Winklevoss made the maximum $844,600 to Trump\u2019s reelection committees, and also combined to give $500,000 to the same super PAC Musk supports. Blackstone\u2019s Stephen Schwarzman and Elliott Investment Management founder Paul Singer both donated to Trump.\u00a0\u00a0<\/p>\n The flood of cash has allowed Trump, whose war chest trailed Biden\u2019s by nearly $100 million at the end of March, to overtake his rival. Trump entered July with $285 million cash on hand, topping Biden\u2019s $240 million, according to Federal Election Commission filings.<\/p>\n Andreessen and Horowitz could pad that advantage. They rank among the 10 biggest donors in the 2024 election cycle, according to OpenSecrets, and have each donated, either individually or through their venture capital firm, more than $24 million.<\/p>\n The biggest recipient of their largesse is Fairshake, a nonpartisan super PAC that supports or opposes candidates based on their positions on the cryptocurrency industry. Andreessen Horowitz donated $44 million to Fairshake under the name AH Capital Management, FEC records show. Their contributions are\u00a0attributed to its founders, Andreessen and Horowitz, who were each the source of $22 million.<\/p>\n<\/div>\n