VCs for Kamala: Venture Capitalists Pledge Support for Democratic Presidential Candidate
More than 1,000 venture capitalists, representing over $276 billion in assets under management, have signed a pledge in support of Democratic presidential candidate Kamala Harris. The VCs for Kamala group, started by venture fund founders Shila Nieves Burney of Zane Venture Fund and Leslie Feinzaig, aims to elect Vice President Kamala Harris as the new president of the United States in November.
The venture capitalists backing Harris include tech luminaries such as Mark Cuban, Steve Wozniak, Jesse Draper, Ron Conway, Katie Stanton, and Aileen Lee. These influential figures from Silicon Valley and beyond believe that Harris is the best choice to lead the country and promote stability, prosperity, and equality.
Nieves Burney, a leading venture capitalist in the Southeast, is socially conscious and dedicated to supporting underrepresented founders through entrepreneurship and venture capital. Her work has helped Black, Asian, Latinx, and other underrepresented founders in the tech industry raise millions of dollars in investments in just a few years.
Nieves Burney’s support for Harris is not only based on her political beliefs but also on her alignment with the values of the venture capital community. She recently organized a petition drive to condemn a lawsuit against the Fearless Fund, an investment fund accused of illegally discriminating in favor of Black women. This decision, like her support for Harris, reflects a commitment to equality and inclusivity, both morally and from a business perspective.
The VCs for Kamala movement aims to promote a robust and equitable democracy, recognizing that a stable political environment is crucial for businesses to thrive and create good jobs. While figures like Elon Musk, Marc Andreessen, and Ben Horowitz support President Trump, the VCs backing Harris represent a significantly larger pool of funds, totaling $276 billion compared to the $42 billion managed by Andreessen and Horowitz’s fund.
Nieves Burney plans to host a mixer in Chicago during the Democratic National Convention, with more events scheduled in San Francisco and Los Angeles in October. These events aim to engage voters, raise awareness, and support the campaign to elect Harris.
In an interview, Nieves Burney emphasized the importance of capital for underrepresented founders and the role of funds like hers in supporting their growth. She highlighted the need for capital to support underrepresented groups in a tight market and expressed concern that without sufficient funding, trust between founders and funds may be lost.
Georgia, where Nieves Burney is based, ranks low in terms of venture capital funding, but the region shows promise with active entrepreneurial communities and initiatives like the entrepreneurial hub in downtown Atlanta. The city is supportive of entrepreneurship and technology, with events like Atlanta Tech Week and Render ATL attracting attention.
When asked about her support for Harris and rejection of Andreessen and Horowitz’s decision to back Trump, Nieves Burney emphasized her belief in democracy and freedom. She expressed disappointment in prominent figures supporting a candidate whose actions and rhetoric contradict these values. In contrast, she praised Harris for her vision of a tech-driven and inclusive America, her strategic alliances with the tech community, and her ability to address the complexities and challenges faced by the industry.
Nieves Burney’s involvement in political activism dates back to her college days, where she marched against apartheid. She has campaigned for Barack Obama, Hillary Clinton, and former Atlanta mayor Keisha Lance Bottoms. Her passion for marginalized communities and her belief in the power of collective action drive her involvement in the VCs for Kamala movement.
This movement has gained significant support, with over 1,000 venture capitalists joining the cause. The message is clear – they are pro-business, pro-American, and pro-technology. Their aim is to promote a more inclusive and just society, where democracy and equality are upheld. Events and fundraisers are planned to engage voters and support Harris’s campaign, with the goal of making a positive impact on the future of the country.
