根据Axios对美国投资委员会和国家风险投资协会下属的政治行动委员会捐款情况的分析，私募股权和风险投资行业并未出现向民主党倾斜的趋势。
Private equity and venture capital aren't leaning into a Blue Wave, according to an Axios analysis of campaign donations made by political action committees affiliated with the American Investment Council and National Venture Capital Association.
重要性：这些行业的政治倾向可能影响诸多政策走向，比如普通投资者参与另类投资的渠道开放、加密货币市场监管框架、合格投资的定义以及人工智能相关法规的制定。
Why it matters: Political alignment could impact issues like expanded retail investor access to alt investments, crypto market structure, qualified investment definitions, and AI regulation.
具体情况：在本轮选举周期中，各政治行动委员会大多延续了以往的捐款惯例。美国投资委员会下属的委员会倾向于向共和党提供支持；而国家风险投资协会下属的委员会则仅资助现任议员，并力求维持当前参众两院的党派席位比例。
Zoom in: Each PAC mostly followed its recent historical precedent during the current election cycle. For the American Investment Council, that meant leaning toward the GOP. For the NVCA, that meant only supporting incumbents and trying to match the current House and Senate margins.
私募股权领域数据：截至8月20日，美国投资委员会下属委员会共向111名候选人捐赠了42.7万美元，其中仅有两名是挑战者，捐款在民主党和共和党候选人间的分配比例基本持平。此外该委员会还向其他政治行动委员会捐赠了26.3万美元，这些委员会的捐款对象中共和党人占比超过三分之二。综合来看，该委员会约58%的捐款流向了共和党候选人或相关委员会。
By the numbers (PE edition): AIC PAC donated $427,000 to 111 candidates (only two challengers) through Aug. 20, with almost an even split between Democrats and Republicans. It also donated another $263,000 to other PACs, where Republicans dominated by more than a 2-to-1 margin. Overall, around 58% of AIC PAC donations were to GOP candidates or GOP committees.
风险投资领域数据：风险投资协会下属的VenturePAC的捐款中，约53%流向了共和党。该委员会总共捐赠了53万美元左右，其中23.3万美元直接给了个人候选人。
By the numbers (VC edition): Around 53% of VenturePAC donations went to Republicans. Overall it donated just over $530,000, including $233,000 directly to individual candidates.
注意事项：上述数据未包含9月份的捐款记录，因为相关报告尚未提交至联邦选举委员会；同时也不包含风险投资和私募股权从业者个人直接向候选人提供的捐款，或是通过人工智能、加密货币相关政治行动委员会完成的捐款。
Yes, but: These figures don't include September donations, as those reports aren't yet filed with the Federal Election Commission. They also don't reflect contributions made directly by individual VCs and PE pros to candidates, or via other PACs like those affiliated with AI and crypto.
幕后情况：国家风险投资协会主席鲍比·富兰克林向Axios透露，VenturePAC明确规定禁止向挑战者捐款，原因是这类候选人很可能属于受“付费换职位”相关法规约束的州级公职人员。他还表示，如果民主党最终掌控国会，预计下个选举周期该委员会的捐款比例会向民主党倾斜。
Behind the scenes: NVCA president Bobby Franklin tells Axios that VenturePAC has a blanket ban on donating to challengers, because of the likelihood that they could be state officials covered by pay-to-play rules. He adds that if Democrats do take control of Congress, he'd expect his PAC's percentages to flip blue during the next cycle.