Vice President JD Vance raised $4.2 million for the Republican National Committee at a Silicon Valley fundraiser Thursday night, boosting the GOP's campaign war chest as Republicans work to defend their congressional majorities in this year's midterm elections.

The dinner was held at the Palo Alto home of venture capitalist and "All-In" podcast host Chamath Palihapitiya, Axios reported, citing a source familiar with the event.

Vance, who serves as RNC finance chair, has relied on his longtime ties to Silicon Valley and the venture capital community to expand the Republican donor network.

Before being elected to the Senate from Ohio and later becoming vice president, he worked as a venture capitalist and built relationships across the technology industry.

Goldman Sachs executive John Underwood co-hosted the event, which drew several prominent technology leaders, including Coinbase co-founder and CEO Brian Armstrong and Intel CEO Lip-Bu Tan.

About two dozen donors attended the private gathering, with each contributing $250,000, according to the report.

The dinner also gave Vance an opportunity to deepen relationships with major GOP donors nationwide as he expands the party's fundraising network while further fueling speculation about a potential 2028 presidential run.

The fundraiser comes as Republicans continue building a financial advantage over Democrats heading into November.

Federal Election Commission filings show the Republican Party's national committees have outraised their Democrat counterparts during the current election cycle, giving the GOP a larger campaign war chest as it seeks to hold its House and Senate majorities.

Republicans are also working to overcome the historical trend that often sees the president's party lose seats in midterm elections.

With President Donald Trump leading the party's agenda and Vance expanding its fundraising operation, Republicans are investing heavily in competitive races nationwide while Democrats target key House and Senate districts in hopes of reclaiming control of Congress.

The Silicon Valley event also reflects Republicans' growing appeal among technology executives and investors, a group that has traditionally leaned Democrat but has become increasingly receptive to GOP candidates and policies in recent election cycles.

Vance has emerged as one of the Republican Party's most influential political figures, balancing his duties as vice president with an aggressive fundraising schedule as Republicans intensify their efforts to protect their congressional majorities in November.