Billionaire industrialists and major Republican donors Charles and David Koch are launching a new venture capital firm to invest in disruptive technologies.

The brothers’ initiative is seen as a vehicle for challenging government regulations.

The Kochs’ network of political advocacy groups has been meeting over the past few days in Palm Springs, California. On Saturday, the network pledged to spend up to $400 million on campaign contributions and policy initiatives during the run-up to the midterm congressional elections.

This is a developing story. Please check back for updates.

Source: Tech CNBC
Koch brothers are launching firm to invest in disruptive tech in bid to challenge regulations