UPDATED: Downstate Venture Capitalist Jesse Sullivan Announcing Run for Governor Thursday
Menard County resident Jesse Sullivan, the CEO of a San Francisco venture capital firm, confirms he is announcing his run for Governor Thursday.
Central Illinois venture capitalist Jesse Sullivan confirmed to The Illinoize Wednesday he will launch a campaign for Governor Thursday.
An announcement is expected Thursday afternoon at the Lincoln’s New Salem Historic Site near Petersburg, Sullivan’s hometown.
His venture capital firm, Alter, which was founded in 2015 while he was pursuing an MBA at Stanford, specializes in technology startups. The firm’s website says it connects “Silicon Valley talent, networks, and capital they most need to scale.”
Sullivan and his wife, Monique, have four children with a fifth on the way. They have also served as foster parents.
It isn’t clear what kind of positions Sullivan would take in a campaign. He has never sought elected office. Campaign records show he has never contributed money to a state candidate and a single $10,000 contribution to the Illinois GOP federal fund earlier this year.
Many Republicans we spoke to say they’re unaware of what Sullivan would bring to the table or what kind of team he would put together. Some have dismissed him, though others say a large influx of personal cash could be enough to build a statewide network and win in a GOP primary filled with cash-strapped Republican candidates.
Some sources have indicated Sullivan would spend $10-15 million of his own money on the race, which would be helpful in a primary, but would pale in comparison to the hundreds of millions available to incumbent Democrat JB Pritzker.
UPDATE (8:07 P.M.):
The night before his launch for the race for Governor, Sullivan’s campaign reported nearly $11 million in contributions. None of the money raised included personal funds. The contributions include $5 million from Chris Larsen, the San Francisco based Chairman of payment processor Ripple and $4 million from Kevin Taweel, CEO of cell phone insurance company Asurion.
Contribution caps have already been broken in the race, so Sullivan can raise or give his campaign unlimited funds.
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Three other candidates, Sen. Darren Bailey (R-Xenia), former Sen. Paul Schimpf, and suburban Chicago businessman Gary Rabine are seeking the GOP nomination. Congressman Rodney Davis (R-Taylorville), Sen. Jason Barickman (R-Bloomington), and former Sen. Kirk Dillard are all considering campaigns.