“Right now people are feeling a little bit helpless about super PACs and how to get money out of the system at the federal level,” said Sean Eldridge, Mr. Hughes’s fiancé, who runs an investment fund and is a leader of the effort. “An opportunity to pass campaign finance reform in New York is an opportunity for people to do something — to actually be able to pass a bill, to make progress.”

The coalition, called New York Leadership for Accountable Government, is notable for its diversity and its well-known names: its roster includes Jonathan Soros, the son of the philanthropist George Soros; Jerome Kohlberg, a co-founder of Kohlberg Kravis Roberts & Company; and several former elected officials, including Mayor Edward I. Koch.

The group is also supported by the Committee for Economic Development, a nonpartisan public-policy group backed by executives from dozens of Fortune 500 companies. The committee is holding meetings in New York this month to encourage business leaders to join the coalition.

Many of the executives involved have given generously to candidates in the past.

“With this effort, you have people who are big donors, who are involved with the campaign system, saying: ‘You know what, this doesn’t make sense. This isn’t what democracy is supposed to be about,’ ” said David L. Calone, a venture capitalist based on Long Island who has raised money for Democratic candidates.

New York’s campaign finance system is among the least restrictive in the nation, with individuals permitted to give up to $60,800 to candidates running for statewide office. The median cap among states that limit contributions is $5,000 for candidates for governor, according to the National Conference of State Legislatures.