New York, New York – Following President Joe Biden’s withdrawal from the presidential race, Vice President Kamala Harris is experiencing a surge in support from major donors eager to back her candidacy. This wave of financial backing is bolstered by key bundlers who have previously supported her in past campaigns, according to sources familiar with the situation.

Immediately after Biden’s announcement and subsequent endorsement of Harris, major donors who had actively fundraised for her during the 2020 Democratic primary and her successful 2016 Senate campaign began mobilizing to reach out to affluent contributors. Jon Henes, the vice president’s national finance chair during her 2020 presidential run, reported being inundated with requests from supporters across the country looking to host fundraising events and make donations.

Among the prominent fundraisers lining up to support Harris is Wall Street executive Marc Lasry, who had previously assisted her campaign against Biden in the 2020 Democratic primary before later fundraising for Biden in the general election against former President Donald Trump. The progressive donation platform ActBlue also reported a significant spike in contributions, raising $27.5 million from small-dollar donors within hours of Biden’s endorsement of Harris.

The renewed enthusiasm from top party financiers, including notable figures like venture capitalist Reid Hoffman, underscores a shift in support towards Harris following Biden’s exit from the race. Hoffman, who had previously backed Biden, is now planning to contribute even more to Harris’ campaign, signaling a strong pivot in donor sentiment.

Despite the outpouring of support for Harris, some within the Democratic Party remain cautious, suggesting that she still has hurdles to overcome in uniting the party behind her. With the upcoming Democratic National Convention in Chicago, prominent donors like Stewart Bainum Jr., chairman of Choice Hotels, are opting to wait and see how the nomination process unfolds, emphasizing the need for a competitive selection process.

As Harris works to solidify her campaign finances and access the substantial war chest left by Biden, questions linger concerning the logistics of fund allocation and the potential conversion of funds if she does not secure the Democratic nomination. Election lawyers continue to debate the proper protocols regarding campaign funding access, leaving uncertainties surrounding the utilization of the significant financial resources at her disposal.

With the transition from Biden’s campaign to “Harris for President,” the dynamics of fundraising and donor engagement are evolving, presenting Harris with both opportunities and challenges as she endeavors to secure the Democratic nomination and navigate the complex landscape of campaign finance regulations.