Business and tech donors have given $3.3 million to a new independent committee supporting San Jose Mayor Matt Mahan's bid for California governor, led by $1 million gifts from Michael Seibel and Marc & Ashley Merrill and $500,000 from Neil Mehta. The PAC has already reserved about $1.4 million in airtime and can accept unlimited donations. Mahan also raised nearly $6 million in direct contributions the week after launching but faces a short runway and well-funded rivals — most notably Tom Steyer, who has self-funded roughly $38 million.
Tech Donors Pour $3.3M Into PAC Backing Matt Mahan as He Scrambles Ahead of June Primary
Business and technology leaders have contributed $3.3 million to a newly formed independent expenditure committee supporting San Jose Mayor Matt Mahan's campaign for California governor, a rapid infusion of cash aimed at helping the newcomer build statewide name recognition ahead of the June 2 primary.
Major Donors
The fundraising push is led by $1 million gifts from Y Combinator executive Michael Seibel and from Riot Games co-founder Marc Merrill and his spouse, Ashley Merrill, plus a $500,000 donation from tech investor Neil Mehta. Those high-dollar gifts could prove pivotal if the committee attracts additional support.
How the Funds Will Be Used
As an independent expenditure committee, the group can accept unlimited contributions and spend independently to support Mahan. Media booking disclosures show it has already reserved roughly $1.4 million in advertising airtime, and a person familiar with the committee said supporters expect to add substantially more in the days ahead.
Campaign Context
Mahan's entry last week energized many in Silicon Valley, but the tech-friendly mayor remains relatively unknown outside San Jose and has less than four months to break through in a state with expensive, multi-market media markets. He raised nearly $6 million in direct contributions in the week after launching his campaign, an aggressive haul for a newcomer but still short of the sustained fundraising networks enjoyed by longer-running campaigns.
Mahan will face formidable financial opposition. Billionaire Tom Steyer has self-funded roughly $38 million so far, saturating some airwaves, while outside committees supporting other candidates such as Rep. Eric Swalwell and former Los Angeles Mayor Antonio Villaraigosa have reported little outside fundraising to date.
Correction: A previous version of this story misstated the total amount reported by a PAC supporting candidate Matt Mahan.
Whether the PAC's early spending and Silicon Valley backing can translate into broad voter recognition across California's diverse regions remains an open question as the crowded gubernatorial contest unfolds.
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