VenturePAC, the political action committee of the National Venture Capital Association, traditionally writes out most of its checks to Republicans. But, like so much of the country in 2007, it’s switching sides.
The group contributed $165,000 to 61 Democratic candidates and PACs over the first half of the year, compared to just $135,000 to 48 Republican candidates and PACs. That’s a 55%-45% advantage for the donkeys, and even included cash for private equity (if not VC) critics Max Baucus and Barney Frank. Download the complete list here.
Pretty big flip, considering that GOP candidates in the 2005-2006 election cycle were more than twice as likely to receive VenturePAC contributions than were Democrats.
It’s important to note that VenturePAC is far more pragmatic than partisan, with an enormous amount of weight placed on likelihood of victory. It rarely backs challengers, except in cases where weak incumbents are actively opposed the NVCA’s agenda. The group also does not contribute to presidential candidates of either party – because it considers such contests to be far more divisive within NVCA membership.