New Federal Election Commission reports shed new light on the frenzy of spending that occurred in the final weeks of the 17th Congressional District showdown between Rep. Mike Honda and Democratic challenger Ro Khanna, which Khanna lost by 3.6 percentage points.
Perhaps most illuminating is the report filed by Californians for Innovation, a super PAC formed by Khanna backers to raise and spend money independently in support of his campaign.
Californians for Innovation reported raising $310,000 and spending $484,692 from Oct. 16 through Nov. 24, leaving $14,930 cash on hand and no debt at the end of that time. In all, the super PAC raised $790,000 and spent $805,070 this year to support Khanna.
Notable donations during the final weeks included another $100,000 from Texas energy hedge fund billionaire John Arnold, bringing his and his wife’s total contributions to $350,000 – far and away the super PAC’s biggest benefactors.
The next-biggest contribution after mid-October was $70,000 from billionaire venture capitalist Vinod Khosla of Portola Valley. Other notable contributions included $25,000 from Ashok Krishnamurthi, vice chairman and co-founder of San Jose’s Xsigo Systems; and $25,000 from Anil Godhwani, CEO and co-founder at Milpitas’ Habitera Inc. (bringing Godhwani’s total contributions to $45,000).
And another $15,000 came in from San Francisco-based OO Investment LLC, bringing that shadowy entity’s total ante to $40,000. Corporate records reveal nothing about OO Investment’s partners or activities, and the lawyer designated as its agent has not answered repeated queries.
The super PAC’s money paid for radio ads and mailers on Khanna’s behalf as his own campaign – once far more well-funded than Honda’s – ran dry in the contest’s final weeks.
Khanna’s campaign raised $172,368 and spent $314,598 from Oct. 16 through Nov. 24, leaving $5,134 cash on hand but $114,415 in debts at the end of that period. Over the entire course of the campaign, Khanna raised $4,597,033 and spent $4,460,621.
Honda’s campaign raised $317,663 and spent $710,226 from Oct. 16 through Nov. 24, leaving $27,732 cash on hand and no debt at the end of that period. Over the entire course of the campaign, Honda raised $3,244,647 and spent $3,202,356.