Foreign Investment Bill Requires Key Changes to Protect Investment in U.S. Startups

WASHINGTON, DC – The National Venture Capital Association (NVCA) today recommended key changes to the Foreign Investment Risk Review Modernization Act (FIRRMA) of 2017 on behalf of the entrepreneurial ecosystem. NVCA submitted its views on the legislation in a submission to the House Financial Services Committee in connection with its hearing on “H.R. 4311, the Foreign Investment Risk Review Modernization Act of 2017.”

FIRRMA expands the mandate of the Committee on Foreign Investment in the United States (CFIUS) to review minority investments into U.S. critical technology companies, unless the investment is a passive investment. NVCA is recommending key changes be made to FIRRMA that maintain the intent of the bill but mitigate damage to U.S. startups that need capital to grow. (more…)

U.S. Venture Capital Industry Pacing for Another Record-Breaking Year in 2018

Investors Deployed Record Amount of Capital to Venture-Backed Companies in 1Q 2018, Despite Slower Pace of Fundraising and Sluggish Exit Market; Industry Remains Optimistic for Another Banner Year, According to 1Q 2018 PitchBook-NVCA Venture Monitor

SEATTLE, WA – Investment into venture-backed companies is already on pace to experience another record-breaking year in 2018, according to the PitchBook-NVCA Venture Monitor, the authoritative quarterly report on venture capital activity in the entrepreneurial ecosystem jointly produced by PitchBook and the National Venture Capital Association (NVCA). Coming off multiple years of record fundraising, just over $8 billion raised in 1Q 2018, a slight decline from previous quarters. Despite the slow start, several billion-dollar mega-funds have since been announced, which are expected to boost fund size and count as 2018 unfolds. The sustained momentum in venture fundraising has continued to fuel ramped dealmaking. Investors deployed the highest amount of capital in 1Q 2018 than any single quarter since 2006 ($28.2 billion), with unicorns attracting over 18% of total VC capital. The exit market for venture-backed companies remained sluggish in the first quarter; however, several landmark deals helped drive exit value, including Amazon’s $1.2 billion acquisition of Ring and DropBox’s $756 million public debut. The momentum generated from these exits has created optimism for a stronger exit market in 2018.

“The first quarter of 2018 picked up right where 2017 left off, with the largest amount of capital deployed into venture-backed companies in a single quarter since 2006, marking a very strong start to venture investment this year,” said Bobby Franklin, President and CEO of NVCA. (more…)

Leaders of Venture Industry Honored at NVCA Leadership Gala

MENLO PARK, CA – The National Venture Capital Association (NVCA) today honored leaders of the venture capital industry for their significant contributions to advance innovation, strengthen the industry and promote entrepreneurship at the 2018 NVCA Leadership Gala.  In addition to recognizing the recipients of the Lifetime Achievement in Venture Capital Award, Outstanding Service Award and American Spirit Award, NVCA announced the winners of the Rising Star Award, Excellence in Healthcare Innovation Award and Venture Firm of the Year Award.

“On behalf of NVCA and our board of directors, I want to congratulate the 2018 award recipients for their contributions to advancing our industry and U.S. entrepreneurship,” said Bobby Franklin, President and CEO of NVCA.  (more…)

Pete Bancroft Presented with Lifetime Achievement in Venture Capital Award at NVCA Leadership Gala

MENLO PARK, CA – The National Venture Capital Association (NVCA) today presented Pete Bancroft with the 2018 American Spirit Award at the 2018 NVCA Leadership Gala.  Held at the Rosewood Sand Hill in Menlo Park, CA, the NVCA Leadership Gala celebrates the venture industry and honors those who have made significant contributions to foster innovation, advance technology and drive new company formation. 

“Pete is a pioneer of the venture industry, credited with being one of the earliest participants in the industry as a General Partner at Draper Gaither & Anderson,” said Bobby Franklin, President and CEO of NVCA.  (more…)

Ira Ehrenpreis Presented with Outstanding Service Award at NVCA Leadership Gala

MENLO PARK, CA – The National Venture Capital Association (NVCA) today presented Ira Ehrenpreis, Managing Partner of DBL Partners, with the 2018 Outstanding Service Award at the 2018 NVCA Leadership Gala.  Held at the Rosewood Sand Hill in Menlo Park, CA, the NVCA Leadership Gala celebrates the venture industry and honors those who have made significant contributions to foster innovation, advance technology and drive new company formation. 

“For over two decades, Ira has been a fixture of the venture community and widely recognized as one of the most well-connected venture investors in the country,” said Bobby Franklin, President and CEO of NVCA.  (more…)

RoseAnn Rosenthal Presented with American Spirit Award at NVCA Leadership Gala

MENLO PARK, CA – The National Venture Capital Association (NVCA) today presented RoseAnn Rosenthal, President and CEO of Ben Franklin Technology Partners of Southeastern Pennsylvania, with the 2018 American Spirit Award at the 2018 NVCA Leadership Gala.  Held at the Rosewood Sand Hill in Menlo Park, CA, the NVCA Leadership Gala celebrates the venture industry and honors those who have made significant contributions to foster innovation, advance technology and drive new company formation. 

“Governors, state lawmakers and economic development officers all want to know how to grow and strengthen their entrepreneurial ecosystems, and RoseAnn has the playbook to follow,” said Bobby Franklin, President and CEO of NVCA.  (more…)

Robin Li Presented with Rising Star Award at NVCA Leadership Gala

MENLO PARK, CA – The National Venture Capital Association (NVCA) today presented Robin Li, Vice President at GGV Capital, with the 2018 Rising Star Award at the 2018 NVCA Leadership Gala.  Held at the Rosewood Sand Hill in Menlo Park, CA, the NVCA Leadership Gala celebrates the venture industry and honors those who have made significant contributions to foster innovation, advance technology and drive new company formation. 

“Now in its second year, the Rising Star Award has become one of the most competitive award categories in our stable.  We were overwhelmed with nominations this year and while many were deserving of recognition, Robin’s name consistently rose to the top during the selection process,” said Bobby Franklin, President and CEO of NVCA.  (more…)

True Ventures Receives Firm of the Year Recognition at NVCA Leadership Gala

MENLO PARK, CA – The National Venture Capital Association (NVCA) today presented True Ventures with the 2018 Venture Firm of the Year Award at the 2018 NVCA Leadership Gala.  Held at the Rosewood Sand Hill in Menlo Park, CA, the NVCA Leadership Gala celebrates the venture industry and honors those who have made significant contributions to foster innovation, advance technology and drive new company formation. 

“We couldn’t be happier for the True team and are honored to recognize them as the 2018 Venture Firm of the Year,” said Bobby Franklin, President and CEO of NVCA.  (more…)

Bob Nelsen Presented with Excellence in Healthcare Innovation Award at NVCA Leadership Gala

MENLO PARK, CA – The National Venture Capital Association (NVCA) today presented Bob Nelsen, Co-Founder and Managing Director of ARCH Venture Partners, with the 2018 Excellence in Healthcare Innovation Award at the 2018 NVCA Leadership Gala.  Held at the Rosewood Sand Hill in Menlo Park, CA, the NVCA Leadership Gala celebrates the venture industry and honors those who have made significant contributions to foster innovation, advance technology and drive new company formation. 

“One of the great visionary healthcare investors of our time, Bob Nelsen needs no introduction in the venture community,” said Bobby Franklin, President and CEO of NVCA.  (more…)

NVCA Unveils Resources to Help Address Sexual Harassment in Venture Ecosystem

WASHINGTON, DC – The National Venture Capital Association (NVCA) today released a set of model documents and resources to help address sexual harassment in the venture industry. Created with guidance from working groups consisting of legal, H.R., and employment experts as well as venture investors, the documents have been created for both venture firms and startups to reference and adopt.  These industry resources include: 1) Sample H.R. Policies for Addressing Harassment & Discrimination; 2) Sample H.R. Best Practices for Addressing Harassment & Discrimination; and 3) Sample Code of Conduct Policy.  They are available with the NVCA Model Legal Documents as well as on the VentureForward page of the NVCA website.

The H.R. resources come in response to the news reports last summer of incidents of sexual harassment involving venture investors.  In the wake of these revelations, NVCA sprang to action, speaking with many of the victims, collecting recommendations via an online form, and organizing a workshop in San Francisco that convened more than 60 industry participants, including managing partners, H.R. professionals, entrepreneurs, limited partners, legal experts, and other stakeholders. (more…)