DeSantis Taps Board to Boost Fundraising Efforts Before Iowa

Hadriana Lowenkron
·3 min read
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(Bloomberg) -- Florida Governor Ron DeSantis is launching a national finance board in a bid to expand fundraising efforts a month out from the Iowa caucuses, as his GOP presidential rivals make new inroads with wealthy donors.

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The board, which is being announced Thursday, is chaired by business leaders and donors including Roy Bailey, CEO of Bailey Deason Capital Interests LLC; Nick Iarossi, partner and founding member of Capital City Consulting; and Mike McClellan, partner at Newmeyer Dillion LLP, according to a list of participants seen by Bloomberg News. Bailey is a former national co-chair of Donald Trump’s 2020 campaign.

Jay Zeidman of Altitude Ventures LLC, Brad Martin of Riverview Acquisition Corp, Willie Langston of Avalon Advisors LLC and Emil Henry, founder and CEO of Tiger Infrastructure Partners LP, are also joining the board.

Prospective donors to two super political action committees backing DeSantis will receive a briefing Thursday in Tallahassee, according to a person familiar with the matter. Phil Cox, a senior adviser to one of the super PACs, Never Back Down, and campaign manager James Uthmeier, are leading the information session, according to the person, who discussed the event on condition of anonymity.

The fundraising push follows fresh turmoil for DeSantis’s presidential bid, which has been rattled by infighting over strategy, staff shakeups, and donor angst over spending, as the candidate has struggled to close the gap with Trump, the Republican frontrunner.

Never Back Down saw top officials depart in recent weeks and one of the candidate’s closest allies, Scott Wagner, took over the group earlier this month. The super PAC recently canceled a donor event citing a lack of interest, a troubling sign for DeSantis who has seen his rivals attract new attention from deep-pocketed Republican donors.

Former United Nations Ambassador Nikki Haley has been on a fundraising blitz to capitalize on her rising poll numbers after a series of standout debate performances. Prominent Wall Street icons have also expressed support for Haley, as polls show voter dismay at the prospect of another Trump rematch with President Joe Biden.

DeSantis and Haley are both battling for a strong showing in Iowa, the first state in the Republican nominating calendar, in hopes of emerging as the top alternative to Trump. DeSantis is in second place nationally and in Iowa, according to the RealClearPolitics average of polls. But surveys show Haley, in third place, closing the gap in the first caucus state.

The governor faced a cash crunch this summer that saw donors question spending decisions. He raised $15.1 million in the third quarter but had only about $5 million on hand for the primary, trailing both Trump and Haley.

DeSantis’s fundraising his grown this quarter, including raising $2 million over a 48-hour stretch in November, his campaign said. He has also gotten a boost from former Yale University classmates, who leveraged their networks to raise money for his campaign.

“The fundraising apparatus the campaign has built in the last few months has been historic, and we are excited to take it to the next level in the weeks and months ahead,” Iarossi said in a statement.

(Updates description of Bailey in second paragraph and adds details on DeSantis fundraising in 11th paragraph)

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