However, during those calls, some high-profile donors told Biden that they will not commit to bundling for him, at least in the early stages of the primary, said the people, who declined to be named. The donors told Biden they’re not yet convinced he can overtake the younger, more diverse and progressive field, and that they are going to wait to see how he competes in the race, the people added.

The donors did tell Biden that they’re willing to write the $2,700 checks for his campaign, which is the most an individual can give directly to a candidate in an election cycle, according to the people.

“I told him, ‘I can donate but I don’t think I can raise you money today.’ The sense we’re getting [from other donors] is yes, he’s a good guy and everybody knows him, but he has run for president a couple times and it didn’t always work out,” said a billionaire financier who spoke on the condition of anonymity. “I think with Biden there’s a feeling of ‘I like him, he’s a really good guy, but he’d be running at a moment in time that a 76-year-old white guy may not be what voters want.’ I don’t want to give chits today for Joe. What’s my benefit?”