"Initial fundraising reports from the first week of Matt Mahan's gubernatorial campaign filed Tuesday reveal the depth of support for the moderate Democrat from Silicon Valley executives and venture capitalists. Reports filed with the California Secretary of State show just 21 individuals contributed more than $1.6 million to Matt Mahan for Governor 2026 in the first two days of his campaign."
"An independent expenditure committee formed to boost the Mahan campaign said last weekend it had raised more than $3.2 million and spent $1.5 million on a Super Bowl ad. Deep pockets of Big Tech millionaires are likely to be critical to Mahan's "Back to Basics" campaign if he is to emerge as one of two finalists out of the June 4 primary."
"There are no limits to what individuals can contribute to independent expenditure committees, which are required to be separate from candidate-run campaigns. Direct contributions to a gubernatorial candidate are limited to $39,200 for the primary and $39,200 for the general election. The independent committee said last weekend that its contributors included Y Combinator partner Michael Seibel, Riot Games co-founder Marc Merrill, Bay Area venture capitalists Neil Mehta and Brian Singerman and investor Paul Wachter, without disclosing amounts."
Campaign filings show more than $2 million in contributions, counting only donors who gave $5,000 or more. Campaign figures indicate total first-week fundraising exceeded $7 million. Twenty-one individuals contributed more than $1.6 million during the first two days. An independent expenditure committee supporting the campaign raised over $3.2 million and spent $1.5 million on a Super Bowl ad. Significant support came from Silicon Valley executives, venture capitalists, and tech investors. Direct contributions to a gubernatorial candidate are capped at $39,200 for each primary and general election, while independent committees face no individual contribution limits.
#campaign-finance #california-gubernatorial-race #silicon-valley-donors #independent-expenditure-committees
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