Contact:

Ben Veghte
NVCA
202.864.5923
bveghte@nvca.org


FOR IMMEDIATE RELEASE:

WASHINGTON, DC – The National Venture Capital Association (NVCA) today submitted to the Senate Committee on Banking, Housing, and Urban Affairs proposals to increase economic growth and enable consumers, market participants and financial companies to better participate in the economy.  The submission came at the request of Senators Mike Crapo (R-ID) Sherrod Brown (D-OH), Chairman and Ranking Member of the committee respectively.

Specifically, NVCA proposed that the committee (1) Exempt investment in venture capital from the Volcker Rule; (2) Modify the venture capital exemption from registered investment advisor (RIA) requirements to fully exempt venture capital activity; and (3) Prioritize capital markets reforms to encourage more U.S. IPOs. 

“As your committee explores these and other ideas to increase economic growth, we encourage you to not lose sight of the critical role venture capital plays in spurring economic growth in the country,” wrote Bobby Franklin, President and CEO of NVCA in the submission.  “Through patient capital investment and hands-on mentorship with entrepreneurs, venture capital is the rocket fuel that propels innovation and builds emerging growth companies to become leaders of the American economy.”

A full copy of the submission can be downloaded HERE.


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.