Cedar Rapids businessman Christian Fong announced Tuesday he will end his campaign for the Republican gubernatorial nomination.

Christian Fong

Christian Fong

“Today, I announce the suspension of my campaign,” Fong said in a statement. “From this time forward, we will not be actively campaigning for the Republican nomination for governor.”

Fong, 32, entered the campaign in June with the support of the highly influential conservative group Iowans for Tax Relief. He quickly announced big fundraising numbers and was the first candidate to launch statewide radio ads. His campaign was led by veteran GOP strategist Marlys Popma, and at a recent Republican Party of Iowa event in November, Fong told the Iowa Independent he fully intended to stay in the race to at least the June primary.

Fong blamed fundraising as the reason for his departure from the race.

“Our vision was clear, but the financial hurdles too great,” Fong said. “Yet it is the responsibility of each generation to build on the blessings of liberty in Iowa, and so I will continue to stand with you for the future of our great state.”

Fong is the second candidate to drop his 2010 gubernatorial bid. Last month Senate Minority Leader Paul McKinley left the race citing former Gov. Terry Branstad’s impending candidacy as his reason. There are now five men seeking the GOP nomination: Branstad, state Sen. Jerry Behn, state Rep. Rod Roberts, state Rep. Chris Rants and Sioux City businessman Bob Vander Plaats.