If Colorado Lt. Gov. Donna Lynne isn’t yet running for governor on the Democratic ticket, it’s sure hard to tell from her fundraising emails and candidate committee.

The lieutenant governor and chief operating officer for the state announced earlier this month that she is “actively” exploring a run for governor. It appears now that she is likely to formally jump into the race within the next few weeks, Colorado Politics has learned.

Colorado Politics was the first to extensively interview Lynne on the subject in a story that appeared last month.

On Aug. 1, Lynne established a candidate committee with the secretary of state’s office called “Lynne for Colorado.” Her first financial filings are due on Oct. 16, and she has been actively raising money since her “exploratory” announcement.

A fundraising email from Lynne dated Aug. 10 states, “Running for governor is not something I can do alone, and with your help I know we’ll be successful. Please consider contributing whatever you can today to make sure we get off to a strong start.”

For a potential candidate who has only declared that she is “exploring” a run for governor, the fundraising email and candidate committee makes it seem like she’s leaning in the direction of establishing a formal campaign.

Lynne, 63, has served as lieutenant governor since May 2016.

Since being sworn in as Colorado’s lieutenant governor, Lynne has taken the reins on health care and state operational efficiencies under Democratic Gov. John Hickenlooper, who is term-limited after next year.

In another sign that Lynne is taking her potential candidacy seriously, the news release announcing her exploratory effort includes a comment from Hickenlooper.

“Lt. Gov. and Chief Operating Officer Donna Lynne is one of the most talented people I have ever worked with,” Hickenlooper said. “Her long record of exemplary success, both in business and in public service, more than earns her the right to run for governor. Colorado is fortunate to have someone with Donna’s dedication and tenacity who wants to lead our state.”

The popular governor’s public support for Lynne is a boon to her campaign as she prepares to compete in a competitive primary.

The race includes U.S. Rep. Jared Polis, former state Sen. Mike Johnston, former state Treasurer Cary Kennedy and Denver civics leader Noel Ginsburg. U.S. Rep. Ed Perlmutter dropped out of the race last month after just three months of campaigning.

Lynne could bring a more moderate approach to the race. Having served as the chairwoman of the Denver Metro Chamber of Commerce, and given her prior work as the executive vice president of Kaiser Foundation Health Plan Inc. and Kaiser Foundation Hospitals, Lynne has developed many contacts in the business community.

The Republican field also is crowded. District Attorney George Brauchler, entrepreneur and former state Rep. Victor Mitchell and investment banker Doug Robinson, who also happens to be Mitt Romney’s nephew, are the best-known candidates.

But more high-profile Republican names are expected to enter the primary, including State Treasurer Walker Stapleton. Attorney General Cynthia Coffman is also seriously considering a run on the Republican ticket.

“It’s clear that voters in Colorado are looking for a candidate who will work to keep us moving in the right direction. As Lt. Governor and Chief Operating Officer, I’ve had the opportunity to travel to all 64 counties and meet with many Coloradans, including community leaders,” Lynne writes in the fundraising email.

“Through my travel to all four corners of this state, I’ve been inspired to think about how I can best continue to serve.”