Contact:

Ben Veghte
NVCA
202.864.5923
bveghte@nvca.org


FOR IMMEDIATE RELEASE:

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.  “The JOBS Act was a great first step, but we must build on this success in order to reopen our public capital markets to startups and small capitalization companies.  We applaud Reps. Sinema and Hollingsworth for spearheading this important legislation to reduce the significant costs for small capitalization companies to go public so that they can spend more time focused on innovation and less time on unnecessary compliance costs and burdensome regulations.”


About National Venture Capital Association

Venture capitalists are committed to funding America’s most innovative entrepreneurs, working closely with them to transform breakthrough ideas into emerging growth companies that drive U.S. job creation and economic growth. As the voice of the U.S. venture capital community, the National Venture Capital Association (NVCA) empowers its members and the entrepreneurs they fund by advocating for policies that encourage innovation and reward long-term investment. As the venture community’s preeminent trade association, the NVCA serves as the definitive resource for venture capital data and unites its member firms through a full range of professional services. For more information about the NVCA, please visit www.nvca.org.