FOR IMMEDIATE RELEASE
January 31, 2023
Contact: Robin Ceppos
WASHINGTON, DC– Today, the National Venture Capital Association (NVCA) officially kicks off a year of celebration commemorating its 50th anniversary. Founded in 1973 as the trade organization advocating at the federal level on behalf of VC firms and their portfolio companies, NVCA empowers its members by advocating for policies that encourage innovation and by delivering resources and programs to help VCs succeed.
With a dynamic member network representing investors from 40+ states, NVCA has helped impact policy and legislation to encourage new company formation, protect long-term investment, promote entrepreneurship, and ensure that the U.S. economy remains competitive in the global race for innovation. Highlights of NVCA’s accomplishments include:
- Relaxing the “prudent man rule” under the Employee Retirement Income Security Act (ERISA) in 1979, which allowed institutional investment in venture capital.
- Advocating for key IPO process reforms in the 2012 Jumpstart our Business (JOBS) Act.
- Protecting startup employees from taxes on stock options during the 2017 tax reform debates.
- Ensuring entrepreneurs’ voices were heard in last year’s passage of two generational technology-related bills, the Inflation Reduction Act (IRA) and CHIPS and Science Act.
“From our humble beginnings to our current position as a leading advocate for America’s startup ecosystem, NVCA’s deep commitment to promoting venture capital’s role in enhancing U.S. economic growth and innovation drives our mission of advocating for the industry in Washington,” said Bobby Franklin, NVCA President, and CEO. “I am proud of the work that we have accomplished to fuel robust U.S. job growth that is vital to the U.S. economy, but our work is not done.”
In 2023 and beyond, NVCA will continue to stand at the forefront of the nation’s venture ecosystem, serving its members and future entrepreneurs. While NVCA celebrates the success of the past, it is aware of the strides that the industry must continue to make, including a focus on increased diversity among investors, founders, and geographies.
NVCA launched Venture Forward in 2020 as its 501(c)(3) supporting organization with a mission to build a more diverse, equitable, and inclusive (DEI) future for VC. Venture Forward’s work not only helps emerging, often historically underrepresented, investors enter the field, but also helps VC investors and firms implement meaningful DEI practices.
“It’s been remarkable to see the VC ecosystem’s positive impact over the past 50 years,” said Maryam Haque, Executive Director of Venture Forward. “By increasing the representation of women, people of color, other marginalized communities, and geographic locations, we can help the industry maximize impact, innovation, and returns over the next 50 years.”
Register now to join NVCA, Venture Forward, and the venture ecosystem to celebrate NVCA’s 50 years of impact at the 2023 NVCA Leadership Gala. The event will take place on May 11, 2023, at the Four Seasons Hotel in San Francisco.
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 the NVCA, please visit www.nvca.org