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.
With PitchBook as our new data partner, NVCA is now better equipped with the power to unlock many more insights on the venture ecosystem for these stakeholders and in support of our advocacy efforts on an ever-evolving industry. Plus we get to deliver added value to NVCA members through this partnership by making available PitchBook as a resource for their research and data needs, driving investment decisions.
I’ve been in the venture capital and private equity research/data world for nearly ten years, so spearheading the selection process was somewhat familiar for me. However, the selection process for our new data partner proved rather complicated when balancing the interests of our diverse group of members (and the broader universe of venture capital firms) with NVCA’s needs. We started with eleven data providers in our evaluation process, which included an RFI and RFP. We layered on top of that feedback from an NVCA member survey, countless focus group calls, and discussions with NVCA board members. Throughout the process, factors we considered were: 1) data quality; 2) data breadth and depth; 3) methodology; 4) usability and functionality; and 5) support. In the end, we learned that no data provider is perfect, but PitchBook is pretty darn close and stood out as the clear leader.
It’s an exciting time at NVCA as we start this new chapter of our research/data capabilities. From working with the great PitchBook team for about seven months through NVCA’s rigorous selection process and laying out with them NVCA’s vision for taking our data capabilities for both our members and our advocacy efforts to the next level, it’s become clear that this is just the beginning of a beautiful partnership. Stay tuned for our first joint research—PitchBook-NVCA Venture Monitor—to be released with third quarter statistics in October!
If you’d like more information on what this partnership means for our industry reporting and for our members, check out these resources.