FOR IMMEDIATE RELEASE
April 1, 2020
Contact: Cassie Ann Hodges
WASHINGTON, DC – The National Venture Capital Association (NVCA) submitted comments to federal agencies today making recommendations on their proposed revision to the Volcker Rule that would allow banks to once again invest in venture capital funds. The Volcker Rule’s covered funds prohibition on financial institution investment into venture capital funds has created an unnecessary limitation for capital formation, particularly in emerging entrepreneurial ecosystems where venture fundraising requires investment from a more diverse set of limited partners.
“We applaud the Agencies willingness to propose revisions that exclude qualifying venture capital funds from the covered fund definition and appreciate the opportunity to provide input,” said Bobby Franklin, President & CEO of NVCA. “The proposed exclusion will have a meaningful positive impact on entrepreneurial capital formation and the U.S. economy.”
Read our submitted comments here.
Learn more about the importance of reforming the Volcker Rule here.
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 US 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.