It’s been an exciting first few weeks for me at NVCA, jumping right in with a flight to the Bay Area to attend NVCA’s board meeting and other activities. In speaking with various board members and industry participants thus far, I have been met with a warm welcome and thought-provoking words of wisdom, as well as the vibrant energy with which the VC industry has become synonymous. Five days, two cross-country flights, and a few hours spent zipping around Sand Hill Road in a baby blue VW Beetle with NVCA President and CEO Bobby Franklin later, I find myself thoroughly impressed by NVCA’s members, mission and staff. I look forward to getting to know the organization better over the coming months and to helping it continue to empower the U.S. entrepreneurial ecosystem via my role as NVCA’s new Vice President of research. (more…)
The United States entrepreneurial ecosystem is the envy of the world, and at NVCA we are often asked what exactly goes into our secret sauce. In truth, there are many ingredients that contribute to a thriving ecosystem, with venture capital being among the most important. However, as is the case with most great recipes, there are many other ingredients that make the flavor pop. From law and accounting firms to strategic advisors and consultants, there is an army of service providers that work with venture firms and their portfolio companies each day to create a thriving entrepreneurial ecosystem. (more…)
Ask most in the venture capital ecosystem for their take on the issue of gender diversity and you’ll get a mixed reaction. Some men avoid the topic for fear of stepping on a land mine. Some women tell us it’s passé. We hear that the tech industry has a big problem. For us, the topic of diversity isn’t an issue to simply brush under the rug. The trouble is, the topic can be tough to talk about. But if we do, it opens up the chance to help everyone figure out why the gender balance is off and how to potentially change the ratio.
The venture capital ecosystem has deployed over $10 billion to cybersecurity companies since 2012. As the frequency and severity of cyber-attacks increase unabated, venture investment into cybersecurity startups will continue to grow, placing venture capitalists and the entrepreneurs they support on the frontlines of our country’s cyber defense capabilities. (more…)
NVCA is dedicated to advancing diversity throughout the entrepreneurial ecosystem. We believe in the value of public and private sector collaboration to develop and discuss solutions that promote the importance of diversity to the innovation ecosystem. Last week, we joined Empowered Women, a nonprofit focused on convening next-gen women leaders, for Hacking the New Economy, a discussion on public policies that can empower women in the new economy. (more…)
The NVCA CFO Task Force comprised of around 100 CFOs from NVCA member firms has long played a critical role in driving our work with auditors and the various regulatory bodies that shape auditing and accounting policies and practices related to the VC industry and its portfolio companies.
A recent focus of this important NVCA peer group has been closely following the implementation of new Fair Value accounting rules since 2008. Specifically, they have concentrated on how auditors of venture funds treat the values assigned to investments classified as “Level 3 assets,” a category that includes nearly all venture funds assets. (more…)
This week, the National Venture Capital Association (NVCA) Diversity Task Force together with Dow Jones VentureSource, and CrunchBase have launched the 2015 Venture Census to take on the critical challenge of measuring the demographics of the U.S. entrepreneurial ecosystem. We invite every employee of venture capital firms and startups to participate in the 2015 Venture Census to anonymously contribute data about their personal and professional backgrounds. (more…)
A few years ago at the strong behest of NVCA and others, the Financial Accounting Foundation (FAF), the parent organization to the Financial Accounting Standards Board (FASB) and the Government Accounting Standards Board (GASB), created the Private Company Council (PCC) to ensure that the reporting and disclosure needs of private companies were reflected in accounting policy. As a part of the PCC’s establishment, the FAF Trustees mandated a three year review in which it would reach out for input from various constituencies. (more…)
Speaking before an audience of diverse entrepreneurs and investors at the 18th Annual Rainbow PUSH Wall Street Project Economic Summit, Ray Leach, NVCA Board Member and NVCA Diversity Task Force Member, made clear the future of innovation depends on expanding opportunities for women and minorities in the venture capital and innovation ecosystems. In The Huffington Post yesterday, Ray wrote about the realities of the lack of diversity in the venture capital industry and NVCA’s focus on creating new pathways for women and minorities to succeed in venture capital and as entrepreneurs.
On an annual basis, the venture capital industry collectively invests in 3,000-4,000 companies and about one-quarter of those investments go to companies that are raising their first round of venture capital. In 2014, venture capitalists invested in 4,356 companies and 1,409 were first-time fundings. How did these entrepreneurs cross the finish line and what’s their next mountain to climb? At NVCA, we launched Office Hours to connect entrepreneurs and VCs to help high growth companies make the ascent.
Office Hours takes place in the midst of VentureScape, NVCA’s annual conference that convenes over 700 venture capital investors, business and political leaders, limited partners, regional venture capital associations, venture-backed companies, essential service providers, universities and the media. Beyond participating in Office Hours, entrepreneurs join all of VentureScape programming from May 6-7, including the After Hours evening event.