Michael Bills, founder and chief investment officer of Bluestem Asset Management LLC in Charlottesville, Virginia, contributed $500,000 to the Clean Virginia Fund on December 15, 2025. The Clean Virginia Fund serves as the political action committee affiliated with Clean Virginia, a nonprofit organization established in 2018 by Bills to counter the influence of utility companies including Dominion Energy in state politics.

Bills, who has channeled millions through the organization and its PAC over multiple election cycles, maintains that his efforts aim to reduce the impact of utility monopolies on Virginia government. Records show his personal donations and those directed through Clean Virginia have totaled significant sums, exceeding $12 million in the 2022-2023 cycle alone when combined with contributions from his wife, Sonjia Smith.

The Clean Virginia Fund restricts support to candidates who pledge not to accept contributions from Dominion Energy or similar utilities. In recent cycles, the group has directed funds toward numerous Democratic candidates in Virginia legislative races, statewide contests, and primaries. Examples include endorsements and contributions supporting former U.S. Representative Abigail Spanberger in her 2025 gubernatorial bid, with an initial pledge of $250,000 noted in 2024, as well as $400,000 allocated to Jay Jones during his primary campaign for attorney general.

Additional recipients of support linked to Bills and the Clean Virginia Fund encompass a broad array of Democratic contenders across House of Delegates and Senate districts who have committed to the no-utility-donation policy. State Senator Aaron Rouse has received a total of $360,000 from the group across his campaigns. No contributions from Bills or the Clean Virginia Fund appear in records for Republican candidates.

Bills has described his involvement as separate from his professional asset management activities, noting his background includes graduation from Hampton High School and management of approximately $1.5 billion in global investments. The December 2025 contribution aligns with ongoing patterns of large-scale funding into Virginia political efforts focused on energy policy and utility regulation ahead of future elections.