Authorities say the shooting happened at 10:22 p.m. just before the fair closed. The victim, who was shot several times, was found on the bike path on the west side of the fairgrounds. He was declared dead at the scene.
Police say it appears the victim and two suspects knew each other and that it was gang related. They got into a physical altercation, and then shots were fired.
The victim's name was not released pending notification of next of kin.
The suspects were last seen running north along the Ventura River toward West Main Street. Anyone with information is urged to call Detective Casey Sutherland at (805) 339-4467.