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…)
Calls on President-Elect to Commit to Strong Entrepreneurship Agenda
WASHINGTON, DC – In a letter to President-elect Donald J. Trump today, the National Venture Capital Association (NVCA) outlined key policy priorities to strengthen venture capital and the entrepreneurial ecosystem. Recognizing that the Trump campaign for president tapped into a belief that many pockets of the country have been left behind by the modern economy, NVCA called on the president-elect to commit to a strong entrepreneurship agenda as a way to build strong economies in all areas of our country. (more…)
Additional Reform Needed to Support Venture Investment in Medical Innovation
WASHINGTON, DC – The National Venture Capital Association (NVCA) today issued the following statement after the House of Representatives passed the 21st Century Cures Act, sponsored by Rep. Fred Upton (R-MI), Chairman of the House Energy and Commerce Committee, and Energy and Commerce Committee Member Rep. Diana DeGette (D-CO).
“On behalf of our nation’s life science investors who since 2006 have collectively invested over $101 billion into 4,494 companies working on cutting edge medical innovation, we applaud passage in the House today of the 21st Century Cures Act,” said Bobby Franklin, President and CEO. (more…)
WASHINGTON, DC – The National Venture Capital Association (NVCA) today announced the appointment of Charlotte Savercool as Director of Government Affairs effective immediately. Savercool comes to NVCA from the House Committee on Energy and Commerce where she served as a Professional Staff Member for the Subcommittee on Communications and Technology.
“We are so thrilled to have Charlotte join the NVCA team to assist in our important work to advocate for the venture capital industry and promote the critical role the entrepreneurial ecosystem plays in strengthening the U.S. economy,” said Bobby Franklin, President and CEO of NVCA. (more…)
WASHINGTON, DC – The National Venture Capital Association today joined as a supporting partner of the Open Network for Board Diversity (ONBOARD) Initiative. Spearheaded by the U.S. Small Business Administration and LinkedIn, the goal of the initiative is to increase the number of women and minority members of advisory boards and boards of directors of high growth small businesses, with special emphasis on those businesses supported by Small Business Investment Companies (SBICs).
“NVCA, our members and the companies they support all have a stake in creating a more inclusive entrepreneurial ecosystem and a critical component to those efforts starts with the composition of company boards,” said Bobby Franklin, President and CEO of NVCA. (more…)
WASHINGTON, DC – The National Venture Capital Association (NVCA) today provided comments to the Department of Homeland Security (DHS) on the proposed International Entrepreneur Rule, which would allow foreign-born entrepreneurs who meet certain criteria to remain in the U.S. to grow their businesses.
“NVCA has long been a vocal advocate for immigration reform with a specific emphasis on the creation of a new visa category for foreign-born founders who come to the U.S. to start and grow innovative companies,” said Bobby Franklin, President and CEO of NVCA. (more…)
PitchBook and the National Venture Capital Association release first-ever Venture Monitor
SEATTLE, WA – PitchBook and the National Venture Capital Association (NVCA) today launched the inaugural PitchBook-NVCA Venture Monitor, a brand new quarterly report to serve as the definitive source of information on U.S. venture capital activity in the entrepreneurial ecosystem. According to the Venture Monitor, nearly 2,000 investors deployed close to $15 billion in venture financing to more than 1,800 companies in the entrepreneurial ecosystem during the third quarter. (more…)
Bill will help startup employees who receive tax bills for illiquid stock options
WASHINGTON, DC – The National Venture Capital Association (NVCA) issued the following statement today after the U.S. House of Representatives passed H.R. 5719, the Empowering Employees Through Stock Ownership Act.
“Most cash strapped startups dedicate their financial capital to developing and building new products and services, making stock options a critical tool to building strong teams,” said Bobby Franklin, President and CEO of NVCA. (more…)