Industry welcomes focus on improving capital formation for America’s startup ecosystem

Washington, D.C. – The National Venture Capital Association is pleased to see House passage of the Developing and Empowering Our Aspiring Leader (DEAL) Act, legislation that will improve funding growth for the country’s entrepreneurs and their investors.

“We are pleased Congress is focused on improving capital formation in the startup ecosystem through a more accurate definition of a venture capital fund,” said NVCA President & CEO Bobby Franklin. “If executed properly, the bill will align venture capital regulation with the current realities of the industry. It will also make more capital available for early-stage companies and expand entrepreneurial activity into more regions of the country.

“U.S. startups are this country’s jobs and innovation engine, improving their chances of success will generate economic opportunity and support America’s technological leadership position in the world.

“NVCA is grateful for Congressman Hollingsworth’s strong leadership and efforts to support patient capital investment and long-term company growth.”

About National Venture Capital Association
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.