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…)
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…)
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…)
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…)
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.”
Driven by uptick in billion-dollar funds, VCs record best fundraising year in a decade
SEATTLE, WA – 2,470 investors deployed $12.7 billion in capital to 1,736 venture-backed companies during the fourth quarter, according to the PitchBook-NVCA Venture Monitor, the definitive source of information on U.S. venture capital activity. The report found that throughout 2016 more than $69.1 billion was invested across 7,751 companies in the entrepreneurial ecosystem, representing the second highest annual investment total in the past 11 years. Given the high levels of venture investment activity recorded in 2014 and 2015, 2016 represented less of a decline and more of a return to normal for the venture capital industry.
“Fourth quarter activity reinforces what we saw and heard all year, which is that the venture investment levels are readjusting after peaking in 2015. We view this recalibration as a healthy normalization and a return to a much steadier pace of investment,” said Bobby Franklin, President and CEO of NVCA. (more…)
Recipients will be Honored at the 2017 NVCA Leadership Gala on March 8
WASHINGTON, DC – The National Venture Capital Association (NVCA) today announced the addition of three new award categories to the lineup of awards that will be presented at the 2017 NVCA Leadership Gala to be held at the Rosewood Sand Hill in Menlo Park, CA the evening of March 8, 2017. The new award categories include the Rising Star Award, Excellence in Healthcare Innovation Award and the Venture Firm of the Year Award. These three new award categories join the current roster of awards that includes the Lifetime Achievement in Venture Capital Award, the Outstanding Service Award and the American Spirit Award. Nominations for all six awards is now open until January 29, 2017.
“After much discussion with our board, our members and other constituencies in the ecosystem, we concluded it was appropriate to add these important new categories to our lineup of awards that will be presented at the Leadership Gala,” said Bobby Franklin, President and CEO of NVCA. (more…)
VC Firms with Human Capital Strategies More Likely to Have Diverse Teams
WASHINGTON, DC – Although women comprise nearly one-half (45 percent) of the total venture capital workforce, few are in investment decision-making positions, according to a new report released today by the National Venture Capital Association (NVCA) and Deloitte. Based on the findings of the first ever NVCA-Deloitte Human Capital Survey conducted by the Deloitte University Leadership Center for Inclusion, women represent 11 percent of investment partners or equivalent on venture investment teams.
Racial minorities are also significantly underrepresented across the VC industry, according to the survey. By race, the report found that non-white employees comprise 22 percent of the venture capital workforce, including Black employees at 3 percent and Hispanic or Latino employees at 4 percent. (more…)
WASHINGTON, DC – The National Venture Capital Association (NVCA) today issued the following statement after President Obama signed into law the 21st Century Cures Act.
“At long last this critical bill is cemented into law after passing both chambers of Congress and signed by the president. Increasing funding for NIH, advancing precision medicine, and improving the environment for the development of life-saving drugs and treatments is critical to ensuring the U.S. remains the tip of the spear in developing breakthrough medical innovation,” said Bobby Franklin, President and CEO of NVCA. (more…)
WASHINGTON, DC – The National Venture Capital Association (NVCA) today applauded Senator Jeff Flake (R-AZ) for introducing legislation to create a startup visa so that foreign-born entrepreneurs can bring their innovative ideas to the U.S. to build high-growth startups that create American jobs. Under the Attracting and Retaining Entrepreneurs Act, an immigrant entrepreneur would earn a “nonimmigrant invest visa” or “invest immigrant visa” if he or she has a significant ownership interest in a startup that receives requisite investment from an investor and meets other requirements, such as job creation.
“Knowing of the significant contributions immigrant founders bring to the startup ecosystem and the broader U.S. economy, NVCA has long advocated for the creation of a startup visa for foreign-born entrepreneurs to build their companies in the U.S.,” said Bobby Franklin, President and CEO of NVCA. (more…)