Vice President-elect James David Vance is a venture capitalist with investment experience in technology and connections to several notable industry mavens.
What Happened: According to his pre-election financial disclosures dated Aug. 13, 2024, Vance’s top holdings include investments in ETFs and Bitcoin (CRYPTO: BTC) apart from his position as a general or a limited partner in a few private equity and venture capital funds.
United States Senate Financial Disclosures‘ official website, details Vance’s holdings across the board. The most notable investments with the highest deployment of funds include top ETFs.
Invesco QQQ Trust, Series 1 (NYSE:QQQ) is Vance’s topmost investment with an invested value between $1 million and $5 million. This is followed by $500,000 to $1 million investments in SPDR Dow Jones Industrial Average ETF (NYSE:DIA) and SPDR S&P 50 ETF (NYSE:DIA). Vance has also invested about $100,000 to $250,000 in the iShares 20+ Year Treasury Bond ETF (NYSE:TLT), and SPDR Gold Trust ETF (NYSE:GLD).
Apart from these, Vance has also invested about $100,001 to $250,000 in Bitcoin. He is also associated as a limited partner and general partner with Narya Capital Fund I, L.P, Rise of the Rest Seed Fund, LP and Rise of the Rest Seed Fund AIV GP, LLC.
Why It Matters: Vance is set to become the first millennial VP for a major party in a presidential race. Before his career in politics, Vance was a former principal at Peter Thiel’s Mithril Capital in 2016 and 2017. He later left Mithril to work at Revolution LLC in 2017, an investment firm founded by AOL founder Steve Case. In 2019, Vance co-founded Narya Capital, a venture capital fund.
Trump’s critic turned running mate, Vance had publicly called the President-elect “reprehensible” and said that he is worried about his political ideology, reported the Washington Post.
The senator brushed off the past criticism of Trump in his interviews before the election. “I was certainly skeptical of Donald Trump in 2016, but President Trump was a great president, and he changed my mind,” Vance said. The Vice President-elect said he “bought into the media’s lies and distortions.”
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