J.D. Vance has spoken out strongly against H-1B visas as a Senate candidate in Ohio, but his history as a venture capitalist tells a different story. Why it matters: Vance and former President Trump are slated to appear together tomorrow night at a rally in Ohio, where H-1B visas are often used as rhetorical punching bags by candidates seeking to appeal to blue-collar workers.
Background: Vance, who got his start in venture capital with Peter Thiel, in 2017 joined Steve Case's Revolution to invest in Midwestern startups. Two years later he left Revolution to co-found his own firm in Ohio, called Narya. What we're watching: Thirty-eight companies that received investment from Revolution's first Rise of the Rest fund and/or Narya have applied for H-1B visas, according to Senate financial disclosures and the Department of Homeland Security database. Among them: What he's saying: “The companies I invest in sometimes have thousands of shareholders. I do not control their decisions," Vance tells Axios. "I believe the H1B visa is abused, because too many companies take advantage of them to undercut the wages of American workers. I’ve never encouraged the companies I’ve invested in to use the program.” The bottom line: Politicians with professional investing backgrounds often find their rhetoric coming into conflict with their résumé.