Press Release
Posted:
Davis, CA – In his Quarter 3rd Federal Election Commission (FEC) report, Eric Jones revealed he has loaned another $4.7 million of his venture capital fortune to his own Congressional campaign. This latest round of self-funding comes after Jones gave $5.36 million of his personal wealth to his campaign during his primary race. Today’s report brings the total amount Jones has self-funded to more than $10 million.
According to reporting from Cal Matters, this is the largest amount of self funding for a Congressional race in California history and the 6th largest amount of self funding spent on any race in California. Despite the millions poured into his campaign, Jones finished in a distant second place in the primary election.
Jones, whose net worth is up to $85 million dollars, made his fortune as a partner at the San Francisco based venture capital firm Dragoneer. During his time at Dragoneer, Jones profited from companies that were fined hundreds of millions of dollars for preying on consumers. These companies include healthcare companies that repeatedly denied patients coverage, including emergency care; companies that violated patient privacy laws; and companies that preyed on seniors by illegally running up medical bills.
Under Jones’ tenure, Dragoneer also invested in the disgraced company Carbon Health, which operated a location locally in American Canyon. Carbon Health was fined $4.4 million dollars for improperly billing patients and consistently putting profits over people’s wellbeing. Today, Jones continues to profit from patients’ pain. As of 2025, he had as much as $30 million invested with his company, which also paid him $1 million over the past year.
“San Francisco venture capitalist Eric Jones is using the profits he made off of the backs of vulnerable patients and seniors to try to buy our congressional seat,” said Thomas Dowling, Campaign Manager for Mike Thompson for Congress. “After Jones’ distant finish in second place in the primary election, Fourth District voters have sent a clear message: We’re not for sale.”