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Cambridge city councilor Leland Cheung is planning to announce a bid for lieutenant governor, advisers said Tuesday.
Cheung said he was “exploring the idea,” and planning to invest six figures in his campaign.
“I think I have an opportunity to help the Democratic Party ticket in November,” he said. “If I do it, I’m going to do whatever I have to do to help the Democratic Party ticket.”
Cheung, a former venture capitalist and the first Asian-American elected to the City Council in Cambridge, would become the third candidate for the state’s second-ranking government position. Cheung worked for Cambridge-based Masthead Venture Partners from 2005 until 2008, he said.