The 2026 race for California’s 68th Assembly District has attracted an extraordinary amount of outside political spending, including more than $2 million from Grow California, a political action committee funded primarily by cryptocurrency entrepreneur Chris Larsen and venture capitalist Tim Draper. According to campaign finance reporting, Grow California spent approximately $1.1 million in independent expenditures opposing Santa Ana Councilwoman Jessie Lopez during the 2026 Primary, while spending another $916,000 on efforts supporting her opponent, David Penaloza. These expenditures are made independently of the candidates’ campaigns and, under California law, cannot be coordinated with them.
So who is behind Grow California? The group describes itself as a bipartisan organization focused on economic growth, accountable government and business-friendly policies. But when you look at its funding, the picture is pretty straightforward: campaign-finance filings show that Larsen contributed $15 million and Draper contributed $5 million to the PAC in 2026. That money has given Grow California the ability to spend millions in legislative races across Californi, including a substantial investment in the AD-68 race. With that much outside money flowing into the district, the role of large donors and independent political committees has become an increasingly visible part of the Assembly contest.
To read more about how big tech has been spending big in local elections, including Assembly District 68, visit TheTruthAboutTechMoney.com
