Contact:

Ben Veghte
NVCA
202.864.5923
bveghte@nvca.org


FOR IMMEDIATE RELEASE:

WASHINGTON, DC – The National Venture Capital Association (NVCA) today issued the following statement on the fifth anniversary of the Jumpstart Our Business Startups (JOBS) Act being signed into law by President Obama April 5, 2012.

“Led by the tireless efforts of former NVCA Board Chair Kate Mitchell of Scale Venture Partners, NVCA played a leading role in pushing the JOBS Act across the goal line in 2012 and the benefits to the entrepreneurial ecosystem have been tremendous,” said Bobby Franklin, President and CEO of NVCA.  “From the test the waters provision to confidential filings, there were many positive reforms included in the JOBS Act that have helped to address the risks, costs and regulatory burdens young startups face as they try to take the next step in their growth by pursuing an IPO.”

“If the JOBS Act built the on-ramp for more companies to access the public markets, the next step is to ensure they have a smooth ride once on the freeway.  The U.S. now has less than half the number of public companies in the U.S. than we did twenty years ago.  We need to make the public markets a more attractive place for companies to not just get to, but to remain,” added Franklin.  “We need to rebuild the economics of small-cap company investment, move away from a regulatory structure that encourages short termism and make it less expensive to be a public company.  Making sure emerging growth companies have every chance for success once in the public markets is a critical next step and we are eager to work with lawmakers on additional reforms to ensure the public markets are more hospitable to small and midsize public companies.”


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.