VenturePAC, the political action committee of the National Venture Capital Association, is favoring Democrats in the November election, according to a review of Federal Election Commission records.
The Washington, D.C.-based group contributed $432,100 to 91 Democratic candidates and causes between Q1 2007 and Q2 2008, compared to $373,498 contributed to 95 Republican candidates and causes. That’s about a 54% to 46% split, which is slightly narrower than the 55% to 45% Democratic advantage for VenturePAC contributions one year ago (the new data is inclusive of the earlier data).
Nonetheless, it continues a major shift for the group, which has historically tilted toward Republican candidates. During the 2005-2006 cycle, for example, VenturePAC backed more than twice as many GOP candidates as Democrats.
All of these contributions were made on the federal level to candidates in the U.S. Congress, or to other political action committees that support federal candidates. VenturePAC does not contribute to presidential campaigns of either party, because it considers such contests to be particularly divisive within NVCA membership.
Joseph Crowley (D-NY) received the most VenturePAC largesse of all the candidates, with $14,500 in total contributions. He was followed by Richard Renzi (R-AZ), with $11,500. —Dan Primack