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…)

NVCA, Investors, Business Leaders and Others Call on President Trump to Maintain International Entrepreneur Rule

Coalition Letter to President Trump Outlines Why IER Should Not Be Rescinded

WASHINGTON, DC – The National Venture Capital Association (NVCA) today led a group of 31 business leaders, investors, and organizations committed to American entrepreneurship in calling on President Trump to not rescind the International Entrepreneur Rule (IER).  The “Rescission of the International Entrepreneur Rule” proposed by the Department of Homeland Security (DHS) has been pending review with the Office of Management and Budget since November, placing IER on uncertain footing and threatens the benefits to the U.S. economy that come from the IER.

Talented immigrant entrepreneurs are already applying through the IER program and making plans to grow the next generation of iconic American companies as a result of a December 1, 2017 court order from Judge James E. Boasberg of the U.S. District Court of the District of Columbia.  Judge Boasberg granted summary judgment for NVCA, entrepreneurs, and startups after they challenged the DHS’s delay of IER.  The ruling compelled DHS to end its delay and begin accepting applications of foreign entrepreneurs who wish to grow new companies in the U.S.  Despite the court ruling and broad support from venture investors, startups and the business community, DHS continues to push for repeal of a common sense, pro-jobs policy that is in alignment with the president’s economic agenda.

“The International Entrepreneur Rule (IER) allows world-class immigrant entrepreneurs to build new companies in the United States if the startup has substantial potential for rapid growth and job creation,” wrote NVCA and other signatories in a letter to President Trump.  (more…)

NVCA Unveils Updated Model Legal Documents

Changes to Address Crypto-Currency and Sexual Harassment and Discrimination Among Changes

WASHINGTON, DC – As a continuation of the National Venture Capital Association’s (NVCA) commitment to convening the entrepreneurial ecosystem and making available resources to support new company formation, NVCA today unveiled updates to its model legal documents.  The first changes to the documents since 2014, the updates are the product of a group of inside and outside counsel to venture capital firms.  The updates were shepherded by the newly created NVCA General Counsel Advisory Board, which was created to maintain and update the model legal documents and provide guidance to NVCA on policy matters impacting venture capital and VC-backed companies.  The NVCA General Counsel Advisory Board is comprised of general counsels from NVCA member firms, outside counsels to member firms, and the academic community.

Through the support of the Advisory Board, as well as other attorneys, the model legal documents are made available as a free public resource.  By providing an industry-embraced set of model legal documents that can be used as a starting point, the model legal documents aim to provide a comprehensive set of internally consistent financing documents, promote consistency among transactions, and reduce transaction cost and time. (more…)

Stephanie Volk Named Vice President of Development for NVCA

WASHINGTON, DC – The National Venture Capital Association (NVCA) today announced the appointment of Stephanie Volk as Vice President of Development effective immediately.  Volk comes to NVCA from GE Ventures, the corporate venture capital arm of GE, where she served as Manager, Commercial Development.  With Volk’s appointment, NVCA expands its West Coast presence as Volk joins Maryam Haque, Vice President of Research and Strategic Engagement, in NVCA’s San Francisco/Palo Alto offices, which were established in June 2017.

“I am extremely excited to welcome Stephanie to the NVCA team.  Her background developing partnerships within the venture community and building resources for startups coupled with significant business, marketing and economic development experience will be a huge asset to NVCA,” said Bobby Franklin, President and CEO of NVCA. (more…)

NVCA Chair Testifies Before Senate Panel on CFIUS Reform Legislation

Recommend Improvements to FIRRMA to Avoid Unintended Consequences on Startup Investment

WASHINGTON, DC – At a congressional hearing today, NVCA Board Chair Scott Kupor, Managing Partner of Andreessen Horowitz, testified on the need to protect U.S. innovation, security and competitiveness, but cautioned lawmakers not to overlook the unintended consequences of proposed legislation to reform the Committee on Foreign Investment in the United States (CFIUS).  Testifying before the U.S. Senate Committee on Banking, Housing and Urban Affairs at a hearing entitled “CFIUS Reform: Examining the Essential Elements,” Kupor shared with lawmakers the fundamentals of venture capital investing as well its importance to the U.S. economy before outlining concerns with S. 2098 the Foreign Investment Risk Review Modernizations Act of 2017 (FIRRMA) and the unintended consequences it would have on venture capital and investment into innovative startups.

FIRRMA is well meaning legislation intended to deal with a real challenge. However, as drafted FIRRMA produces many questions about the filing obligations of U.S. venture capitalists when a fund has any amount of foreign LPs,” remarked Kupor in his prepared testimony.  (more…)