- The House Victory Project transferred approximately $2.2 million to ten Democratic campaigns including several rated "toss up."
- The organization, which is led by Democratic financiers including Jane Hartley, Blair Effron and Roger Altman, handed out $262,579, the highest divestiture of the quarter, to Democrat Angie Craig who’s running this year for Minnesota’s second district.
- The group raked in donations from others such as James Atwood, the managing director of private equity firm the Carlyle Group.
The newly created House Victory Project is already spending big on the 2018 midterm elections as the joint fundraising committee looks to boost Democrats fighting to unseat House Republicans in districts that have been deemed toss ups.
The project injected approximately $2.2 million into ten campaigns with payments ranging from $235,000 to more than $262,000, second quarter Federal Election Commission records show. Of the campaigns that the group backed, eight are labeled toss ups by Larry Sabato’s Crystal Ball.
The organization, which is led by several Democratic financiers including Jane Hartley, Blair Effron and Roger Altman, handed out $262,579, the highest divestiture of the quarter, to the campaign of Angie Craig, a former Congressional candidate in 2016, who’s running this year for Minnesota’s second district.
Spokespersons for Hartley, Effron and Altman did not return requests for comment.
She’s going up against one-term Congressman Jason Lewis, who defeated Craig last time she ran for office. Lewis’ lack of seniority in Congress could make him a viable target for committees like the House Victory Project who are looking to flip seats from red to blue.
Other potentially significant infusions include $249,813 for Susan Wild’s campaign. She’s looking to represent Pennsylvania’s 7th district, which was once held by Republican Congressman Patrick Meehan who resigned in April for using taxpayer money to settle a sexual harassment claim.
Longtime House Republican Leonard Lance in New Jersey’s seventh district could also be feeling the pressure from Democratic political operation as they shelled out $235,168 to Tom Malinowski’s campaign.
Hillary Clinton won Lance’s district during the 2016 presidential election.
All three districts are considered toss ups.
Representatives for the campaigns of Craig, Wild, and Malinowski did not return requests for comment.
The House Victory Project was created to support 24 Democratic House candidates in this year’s midterm elections and it’s financed primarily through Wall Street executives.
Beyond Hartley, Effron and Altman, the group raked in donations from other executives such as James Atwood, the managing director of private equity firm the Carlyle Group. He gave up $54,000 to the House Victory Project, records show.
Michael Granoff, CEO of private equity firm Pomona Group, also contributed $54,000, as did Alan Patricof, the founder and managing director of venture capital firm Greycroft LLC.
In a previous interview with CNBC, Patricof said he joined the Democratic financial organization because of his strong antipathy for President Donald Trump.
“I will do anything I possibly can to get a Democratic Congress, to offset the factors that the president has put in place,” Patricof said in an interview with CNBC in June.
He went on to list just a few of his grievances, including Trump and the Republican-led Congress overturning parts of the Dodd-Frank Act, the president’s efforts to dismantle former President ’s legacy and even the way in which the commander in chief publicly shames his enemies.
Patricof was unavailable to comment for this story.
Political strategists believe that committees like the one run by some of the top New York moneymakers could be a benefit to Democratic campaigns.
“There’s no question that a huge influx of cash could help Democrats regain House seats as long as the committees know how to use the money,” political strategist Hank Sheinkopf said. “The independent committee money sometimes can be thrown out the window and used in the wrong way. Targeted campaigns with social media, TV and online ads could have a significant impact for any Democrat looking to make a difference in 2018,” he added.
Democrats would need to flip 24 seats in November to regain a majority within the House of Representatives.