(WASHINGTON) -- Wealthy conservative investor Foster Friess is best known in Washington, D.C., for helping fund Rick Santorum's presidential campaign. And the multimillionaire says he would support the former Pennsylvania senator again if he runs in 2016, even likening Santorum to Ronald Reagan.
"If people let him out of that box of social conservative, and appreciate how much more he brings to the table, I think he's still one of my favorite candidates," says Friess.
Friess spent well over a million dollars on Santorum's campaign, and says SuperPACs -- specifically the injection of large amounts of cash in elections -- were not really anything new in the 2012 cycle.
"People forget that the SuperPACs are just the reiteration of the 527s," says Friess, referring to independent groups that are allowed to raise money for political activities and issue advocacy.
"George Soros and Peter Lewis gave, what, $14 million and $20 million to make hard times for Bush and no one seems to talk about that," adds the conservative multimillionaire.
Since the November election, the Republican Party has been trying to figure out what went wrong and how to fix it. But Friess says he sees nothing in need of fixing.
"I believe we have an opportunity now to lift up a whole new group of young Republicans, and young new faces that are going to change our country back to where it was maybe 20 years ago," says Friess.
"I think the smartest thing the Republican Party can do is stick to the principles that Republicans stand for -- limited government, respect for the constitution and free markets," says Friess. "If you stick with that, there's no way we're not going to win."
Copyright 2013 ABC News Radio