Alan Patricof, tech investor and main Democratic donor, advised CNBC on Friday he is staying with Joe Biden — however stated the previous vp should “present his stuff” within the subsequent two nominating contests to reinvigorate his run for the presidency.

“It is vital” that Biden wins South Carolina and “he is acquired to provide in Nevada,” stated Patricof, founder and managing director of the Greycrof enterprise capital agency. “He is stated it. Donors really feel it. Everyone is sticking with Joe till they see what occurs there.”

Nevada holds caucuses on Feb. 22, adopted by South Carolina’s major on Feb. 29, simply days earlier than Tremendous Tuesday on March 3, when a 3rd of the delegates are up for grabs in 16 nominating primaries and caucuses.

A day after two main Biden fundraisers in New York, Patricof stated on “Squawk Box” that attendance on the occasions indicted help stays sturdy.

The rooms “have been packed,” stated Patricof. Biden rallied more than 250 Wall Street and big money donors Thursday, in hopes holding help after stumbles in Iowa and New Hampshire.

“It might have felt like a pleasant funeral — nevertheless it did not,” one other donor advised CNBC in a quick interview as she exited one of many fundraisers.

Sen. Bernie Sanders and former South Bend Mayor Pete Buttigieg got here out on high in Iowa and New Hampshire, with Biden ending in fourth and fifth, respectively, in these contests. Biden is polling because the front-runner in Nevada and South Carolina.

On the second donor occasion, Biden emphasised that Iowa and New Hampshire are largely white states, and stated nearly all of black voters “has not spoken,” in response to a pool report.

“I’ve overwhelming help within the African American group as a result of they know me. I have been engaged my entire life, from the time I have been a child within the civil rights motion straight by to being Barack’s vp,” Biden stated, in response to the pool report. “And so I am trying ahead to getting all the way down to South Carolina which we are going to win. And we are going to win, I feel, handily. And into Tremendous Tuesday.”

Biden raised nearly $800,000 on the two occasions.

The Bloomberg issue

Patricof additionally advised CNBC that billionaire former New York Mayor Mike Bloomberg‘s late entry into Democratic presidential race “confused folks.” Bloomberg is self-funding and concentrating his appreciable wealth on the Tremendous Tuesday contests.

“The identical individuals who can be supportive of Mike are the identical individuals who can be supportive to Biden,” Patricof stated. “Lots of people, actually the New York folks, as I’m, are a pal of Mike. … However in the long run, voters are what counts.”

On the fundraisers Thursday, Biden declined to reply questions from reporters about Bloomberg’s rise in nationwide polling.

Patricof stated donors are sticking with the candidates they began with “till it runs its course.” He refused to say who he may help if Biden cannot proper the ship.

“I feel it is truthful to say I’ve all the time been a pal of Mike’s and he is a really viable, formidable candidate. His advertisements are overwhelming at this level,” stated Patricof.

Bloomberg, price about $60 billion, has spent greater than $250 million on TV and radio advertisements and $45 million to $50 million on digital, according to Advertising Analytics and Acronym.

Final week, two days after the messy Iowa outcomes have been coming in decidedly towards Biden, Patricof tipped his hand a bit extra, saying “You possibly can in all probability guess who my No. 2 can be,” He stated then, by no means mentioning Bloomberg by title, that he likes the letter “B.”



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