Fostering Innovation Act a Good First Step to Reopen Public Markets to Startups

WASHINGTON, DC – The National Venture Capital Association (NVCA) issued the following statement today in support of the Fostering Innovation Act introduced by Reps. Kyrsten Sinema (D-AZ) and Trey Hollingsworth (R-IN).

“Since 2000 the United States is averaging less than half the number of IPOs annually.  With more and more startups opting not to go public, this creates a lose-lose situation for the startups and the U.S. economy,” said Bobby Franklin, President and CEO of NVCA.  (more…)

NVCA Chair Testifies Before Senate Commerce Committee on Venture-Backed Innovation in Cybersecurity

WASHINGTON, DC – At a congressional hearing today before the Senate Committee on Commerce, Science, and Transportation, NVCA Board Chair Venky Ganesan, Managing Director at Menlo Ventures, testified on the critical role of venture capital in supporting innovation in cybersecurity.  Since 2010, venture investors have deployed over $14.6 billion in more than 740 cybersecurity companies, including $3.52 billion in 2015 and $2.75 billion in 2016.

“Cybersecurity innovation and venture capital have been inextricably intertwined right from the beginning.  Some of the biggest innovations in cybersecurity have been introduced by venture capital backed startups,” said Ganesan in his prepared testimony.  (more…)

Media Advisory: NVCA Chair Venky Ganesan to Testify Before Congressional Panel on Innovation in Cybersecurity

WASHINGTON, DC – The National Venture Capital Association (NVCA) today announced that NVCA Chair Venky Ganesan, Managing Director at Menlo Ventures, will testify on Wednesday, March 22 before the Senate Committee on Commerce, Science, and Transportation at a hearing entitled, “The Promises and Perils of Emerging Technologies for Cybersecurity.”  The hearing will focus on the impact of emerging technologies in cybersecurity, including the opportunities and risks presented by new fields such as artificial intelligence, the internet of things, blockchain and quantum computing.

“We are excited to have Venky participate in a conversation with senators on the important role venture capital plays in spurring innovation in new technologies to counter emerging cyber threats ,” said Bobby Franklin, President and CEO of NVCA.  (more…)

NVCA Congratulates Dr. Gottlieb on Nomination for FDA Commissioner

WASHINGTON, DC – The National Venture Capital Association (NVCA) issued the following statement today in support of the nomination of Scott Gottlieb, M.D. for Commissioner of the Food and Drug Administration (FDA).  A Resident Fellow at the American Enterprise Institute (AEI), Gottlieb has deep experience in the venture industry, having previously served as a venture partner in life sciences startups at New Enterprise Associates (NEA).

“Through his experiences in public service, as a practicing physician and as an investor in healthcare startups, Dr. Gottlieb has been on the front lines of medical innovation for decades,” said Bobby Franklin, President and CEO of NVCA.  (more…)

NVCA Honors Leaders of Venture Industry at Leadership Gala

MENLO PARK, CA – The National Venture Capital Association (NVCA) today honored leaders of the venture capital industry at the annual NVCA Leadership Gala for their significant contributions to advance innovation, strengthen the industry and promote entrepreneurship.  In addition to the Lifetime Achievement in Venture Capital Award, Outstanding Service Award and American Spirit Award, NVCA added three new categories to the lineup this year, including the Rising Star Award, the Excellence in Healthcare Innovation Award and the Venture Firm of the Year Award. (more…)

NVCA Unveils Sample H.R. Policies to Build Inclusive Cultures at Venture Firms

Policies for Non-discrimination, Recruitment, Childcare Leave, Mentorship, Affinity Groups and Flexible Work Included in Model Document

WASHINGTON, DC – The National Venture Capital Association (NVCA) today unveiled sample human resources (“H.R.”) policies—titled “Sample H.R. Policies for Attracting and Retaining Diverse Talent” (“the Policies”)—to assist venture capital firms in fostering diverse and inclusive cultures.  Prepared by Proskauer Rose and Miller Law Group with support from Silicon Valley Bank, the Policies are an extension of the work of the NVCA Diversity Task Force and will be made available on nvca.org with all the other model legal documents NVCA shares with the venture community.

Included in the document are sample policies for a firm mission statement, non-discrimination, recruitment, childcare leave, mentorship, participation in outside affinity groups and activities, and flexible work arrangements.  (more…)

2017 NVCA Yearbook Highlights Busy Year for Venture Industry and NVCA

New and Improved Yearbook Features Updated Layout and Expanded Content

WASHINGTON, DC – The National Venture Capital Association (NVCA) today released the 20th edition of the annual NVCA Yearbook, documenting trends and analysis of venture capital activity in the United States from the past year and capturing historical data and information about venture’s role in fueling entrepreneurship in America. The NVCA Yearbook is an annual publication that provides statistics on the size and impact of the U.S. venture industry, investments into startups, capital raised and managed by venture capital firms, and exit activity either thorough an initial public offering (IPO) or merger and acquisition (M&A).

NVCA made several changes to the Yearbook this year, including an updated format and layout of the data, expanding the highlights of NVCA and its role in the entrepreneurial ecosystem, and sourcing the data to PitchBook, now the official data provider of NVCA. In addition to the Yearbook, NVCA is making available a copy of a supplementary data pack in PDF format (available to the public) and XLS format (available only to NVCA members). (more…)

NVCA Pledges to Collaborate with Trump Administration to Advance Women Entrepreneurship

WASHINGTON, DC – The National Venture Capital Association (NVCA) today pledge to work with President Trump to advance opportunities for women in entrepreneurship and business.  Recently President Trump announced an initiative in partnership with Canada to support women in business through the “Canada-United States Council for Advancement of Women Entrepreneurs and Business Leaders.”

“America’s venture capitalists are ready, eager, and able to partner with your Administration on this important initiative.  NVCA members, hundreds of U.S. venture capital and corporate venture capital groups, support entrepreneurs by investing capital and resources to build the next-generation of innovative companies,” wrote Bobby Franklin, President and CEO of NVCA, in a letter to President Trump.  (more…)

Finalists for NVCA Awards Announced

Winners Will Be Honored at NVCA Leadership Gala on March 8

WASHINGTON, DC – The National Venture Capital Association (NVCA) today announced the recipients and finalists for its annual awards to that will be presented at the NVCA Leadership Gala on March 8, 2017 at the Rosewood Sand Hill in Menlo Park, CA.  In addition to the Lifetime Achievement in Venture Capital Award, Outstanding Service Award and American spirit Award, NVCA has added three new categories to the lineup this year.  They include the Rising Star Award, Excellence in Healthcare Innovation Award and the Venture Firm of the Year Award. (more…)

Senator Hatch’s Innovation Agenda Cheered by NVCA

Pledges to Work with Hatch to Support Startup Formation

WASHINGTON, DC – The National Venture Capital Association (NVCA) issued the following statement today after Senator Orrin Hatch (R-UT), Chairman of the Senate High-Tech Task Force, unveiled his Innovation Agenda for the 115th Congress.

“On behalf of our nation’s venture capital investors and the entrepreneurs they support, we applaud Senator Hatch for developing such a detailed policy agenda to strengthen the U.S. innovation economy,” said Bobby Franklin, President and CEO of NVCA.  “Through his leadership of the Senate Republican High-Tech Task Force, Senator Hatch has developed a deep appreciation for the important role venture-backed companies play in our economy and has offered a compelling policy agenda to ensure the U.S. remains the global leader in innovation and breakthrough discoveries.  From investment in STEM education to common-sense immigration reforms to attract and retain the best and brightest from around the world, there is much for us to be supportive of, and we look forward to working with Senator Hatch to expand his priority list to better support new startup formation in the U.S.”