NVCA Applauds Senate Introduction of Capital Formation Package 

Washington, DC – National Venture Capital Association (NVCA) CEO Bobby Franklin released the following statement praising Senate Committee on Banking, Housing, and Urban Affairs Ranking Member Tim Scott’s (R-SC) introduction of the Empowering Main Street in America Act (EMSAA): 

“The National Venture Capital Association (NVCA) applauds Ranking Member Scott for introducing the Empowering Main Street in America (EMSAA) Act. NVCA has long supported the Developing and Empowering Our Aspiring Leader (DEAL) Act, included in the EMSAA, which would expand venture capital “qualifying” investments to include secondaries and fund-of-fund investments. This key provision would expand access to capital in emerging markets and address liquidity pressures facing many venture capitalists. Following the House’s bipartisan support of this provision earlier this year, we urge the Senate to work across the aisle to pass this important legislation.” 

EMSAA’s four primary goals are listed below and detailed in this fact sheet: 

• Promoting greater capital formation in U.S. public and private markets 

• Responsibly expanding investment opportunities for retail investors 

• Fostering investor confidence in market integrity, fairness, and transparency 

• Holding regulators accountable through increased oversight 

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The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the U.S. venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about NVCA, please visit www.nvca.org.