Andreessen, Horowitz Among Latest Tech VCs Backing Trump's Campaign

Tech Moguls Andreessen and Horowitz to Support Trump's Presidential Campaign

Venture capital investors Marc Andreessen and Ben Horowitz are planning significant donations to Donald Trump's presidential campaign, according to sources familiar with their intentions. The two tech investors are still determining which Trump-affiliated organizations to support, with a decision expected soon. Notably, these contributions will be made personally and not through their firm, Andreessen Horowitz. However, the donations will likely be smaller than the $45 million monthly pledge by billionaire Elon Musk.

Political Shift in Silicon Valley

Andreessen Horowitz has increasingly engaged with politics, especially in Washington, D.C. The firm has ramped up its lobbying efforts, and last year, Horowitz indicated that the firm’s partners aimed to support candidates advocating for a "technology-enabled future" and rejecting "misguided" tech regulations. In a recent video discussion, Andreessen and Horowitz debated the upcoming election, emphasizing Trump's potential favorability for the tech startup environment, dubbed "little tech" within the firm. Both investors acknowledged their shift from long-time Democrats to Trump supporters, highlighting the anticipated backlash from their peers.

Criticism of Government Regulations

Earlier this month, Andreessen and Horowitz criticized the current U.S. government for being increasingly hostile to new startups. They specifically raised concerns about the regulatory landscape for cryptocurrency and artificial intelligence, areas where Trump is seen as potentially more supportive. Their stance aligns with a broader trend among notable tech and finance figures endorsing Trump, including Elon Musk, Shaun Maguire from Sequoia Capital, VC David Sacks, and the Winklevoss twins.

Growing Financial Backing

Recent endorsements have considerably boosted Trump’s campaign funds. Trump, who trailed President Biden by nearly $100 million at the end of March, had $285 million cash on hand entering July, surpassing Biden's $240 million. Prominent donors to Trump’s campaign include Blackstone’s Stephen Schwarzman and Paul Singer of Elliott Investment Management. Andreessen and Horowitz, each contributing over $24 million during this election cycle, rank among the top 10 donors. The primary beneficiary of their donations is Fairshake, a nonpartisan super PAC influenced by their stance on the cryptocurrency industry.

Influential Contributions to Fairshake

Andreessen Horowitz has donated $44 million to Fairshake, attributed to its founders Andreessen and Horowitz through AH Capital Management. This contribution underscores their significant role in advocating for policies favorable to the crypto sector.