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Jessica Straus & Maryam Haque

NVCA-Deloitte Human Capital Survey: A New Approach to Diversity & Inclusion Research

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We just released our diversity study. Our study is different. We set out to survey all VC firms active in the U.S. to establish a benchmark of the current demographics of the industry and to take a closer look at firms’ talent management practices.

If you’ve spoken with a member of the NVCA staff over the past two years or one of our Board Members, the topic of diversity and inclusion (D&I) in the venture capital industry has likely come up. Since the launch of NVCA’s Diversity Task Force in December 2014, NVCA staff, its Board, and its members have focused on building a more inclusive innovation ecosystem. In our report Building a More Inclusive Entrepreneurial Ecosystem this summer, we outlined many proactive NVCA efforts and industry resources, highlighted a few firms who are leading the pack in terms of diversity initiatives, and referenced third-party data on D&I in VC. Read more

Maryam Haque

New Data Provider: Greater Capabilities, Added Benefits

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In case you missed it, we announced exciting news this week – PitchBook is now the official data provider of NVCA!  Everyone on staff at NVCA is excited to begin this new partnership, but this is particularly exciting for me since my day-to-day at NVCA involves being immersed in research and data related to the entrepreneurial ecosystem.  As the national trade body of the venture capital community, NVCA frequently receives inquiries related to data and research from a wide range of stakeholders, including the media, policymakers, academics, entrepreneurs, limited partners, and venture capital firms (both NVCA members and non-members).  In essence, NVCA is recognized as the go-to place for information on the venture industry, and the statistics we release in coordination with our data provider have become the industry standard. Read more

Maryam Haque

VC Research Spotlight: How Do Venture Capitalists Make Decisions?

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What’s the secret sauce for venture capital investing?  Unfortunately, I don’t have the answer, but it’s not surprising that the topic has piqued the interest of a number of academics.  A recently-released Stanford University Graduate School of Business paper – “How Do Venture Capitalists Make Decisions?” – assesses the VC decision making process to better understand what venture capitalists (VCs) do and why they have been successful.  The study examines eight areas of VC decision making: deal sourcing; investment decisions; valuation; deal structure; post-investment value-added; exits; internal organization of firms; and relationships with limited partners.

About 900 institutional VCs at 681 firms were surveyed (including many NVCA members), and the findings shed light on the complex world of venture investors.  At a high-level, two things stand out: 1) it is no understatement that VCs make lots of critical decisions across multiple levels of management – investments, portfolio companies, firm-level, and LPs; and 2) there isn’t a “one-size-fits-all” approach – VC practices vary across industry, stage, geography, and past success.

Some highlights of the paper’s findings: Read more

Maryam Haque

A Busy Year for Venture Capital: NVCA’s 2016 Yearbook Review

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We’re excited to release the 2016 NVCA Yearbook! While the thought of a “yearbook” may bring back painful memories of awkward high school photos, the NVCA Yearbook features statistics and insights on the entrepreneurial ecosystem, and further highlights the key role of industry data in quantifying the powerful economic force that is venture capital.

Read more

Maryam Haque

Super Tuesday Ecosystems: Examining venture investment in each of the 13 Super Tuesday primary states

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If it’s Tuesday, it’s primary day somewhere.  But this isn’t just any primary day, it’s Super Tuesday!  Today, voters in 13 states (Alabama, Alaska, Arkansas, Colorado, Georgia, Massachusetts, Minnesota, Oklahoma, Tennessee, Texas, Vermont, Virginia and Wyoming) will cast ballots for their preferred candidate in the Democratic and Republican primaries.

As we recently detailed in our annual reporting of venture capital investment by MSA, you don’t have to be an entrepreneur living in a specific city, state or region to receive venture capital investment.  There are pockets of innovation in local entrepreneurial ecosystems in all corners of our country. Read more

Ben Veghte

NVCA provides key data and, more importantly, the context

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Conner Forrest of TechRepublic published an article today, How 2014 could become the year of the startup, making the case that we could see a strong year for startups due to a rise in venture capital investment and exits through mergers and acquisitions and initial public offerings.

Our most recent quarterly PwC/NVCA MoneyTree™ Report based on data provided by Thomson Reuters reported that in the first quarter of 2014, venture capital activity increased from the previous quarter with $9.5 billion invested in 951 deals. Read more

Kelly Slone

Strong year for Biotech IPOs Spurs Optimism for 2014

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As the flood of 2013 recaps and 2014 predictions begins to recede, one storyline continues to spur optimism among venture capitalists: the continued improvement in the venture-backed IPO market. In no sector was this trend more notable than in biotechnology.  With 42 IPOs, biotech provided nearly half of the venture-backed total in 2013. In fact, 2013 saw more biotech IPOs than the last five years combined.

Many factors impact the exit environment for venture-backed companies in a given year. But we believe that two NVCA policy initiatives in 2012 helped pave the way for biotech’s resurgence in 2013. The first is the JOBS Act of 2012, which aimed to ease the cost and regulatory burdens faced by small, innovative startups looking to go public. This past year, the average biotech IPO raised $83 million, which is exactly the type of offering that the JOBS Act’s On-Ramp was designed to enable. Read more

John Taylor

There’s Reason for Optimism in Q3 MoneyTree Report

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Amidst the talk of economic gloom and doom in D.C. this week, the MoneyTree™ Report from PricewaterhouseCoopers LLP (PwC) and the National Venture Capital Association (NVCA), based on data provided by Thomson Reuters, provided some encouragement for venture capitalists, innovators and entrepreneurs. Early Stage dollar investments rose to their highest level in 12 years, rising 7 percent in dollars and 8 percent in deals.  In fact, Seed/Early stage deals accounted for 58 percent of total deal volume in Q3, a record percentage for a single quarter. (Full data can be accessed here.) These figures bode well for the future of innovation.  Read more

John Taylor

Corporate Venture Capital on the Upswing in 2013

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It’s pretty clear from the most recent data that corporate venture capital (CVC) activity is on the upswing. The trend is no surprise given the visible engagement of this constituency in the industry and with NVCA.  In 1H 2013, corporate VCs invested an estimated $1.38B in 303 deals. This activity is attributed to 107 corporate VC groups and represents a participation level of 16.7% of the deals done by the industry and 10.9% of the dollars. This percent of dollars is a post-bubble record. Read more

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