National Venture Capital Association

National Venture Capital Association. The National Venture Capital Association is the premier trade association representing the venture capital and startup ecosystem in the United States. Founded in 1973, it serves as the unified voice for venture capital firms, advocating for policies that foster innovation and support the growth of entrepreneurial companies. The association engages in research, networking, and educational initiatives to strengthen the industry's impact on the American economy.

History

The association was established in 1973 by a group of pioneering venture capitalists, including figures like Tom Perkins of Kleiner Perkins, during a period of significant transformation for the high-tech industry. Its formation coincided with pivotal legislative changes, such as the reduction of the capital gains tax in 1978, which the organization actively supported. Throughout the 1980s and 1990s, it grew in prominence alongside the rise of Silicon Valley and the dot-com boom, advocating for policies that enabled the growth of firms like Sequoia Capital and Accel. Key historical moments include its advocacy for the National Securities Markets Improvement Act of 1996 and its role in shaping Jumpstart Our Business Startups (JOBS) Act regulations following the Financial crisis of 2007–2008.

Mission and activities

The core mission is to advocate for public policy that supports American innovation and to provide essential resources to its member firms. Primary activities include conducting influential research, such as the annual NVCA Yearbook in partnership with PitchBook, and hosting major industry events like the NVCA Leadership Gala. The association also offers professional development and networking forums, including the VC University program in collaboration with UC Berkeley School of Law. Furthermore, it fosters diversity and inclusion within the venture ecosystem through initiatives like the Venture Forward project.

Organization and leadership

The association is governed by a Board of Directors composed of senior partners from leading member firms, such as Mary Meeker of Bond Capital and Scott Kupor of Andreessen Horowitz. Day-to-day operations are managed by a professional staff headquartered in Washington, D.C., with the President & CEO serving as the primary executive; Bobby Franklin held this role from 2013 until 2020. Membership is structured to include full members, which are venture capital firms, and associate members, comprising law firms like Cooley LLP, accounting firms, and other service providers to the startup community.

Policy advocacy and initiatives

Policy advocacy is a central function, focusing on issues critical to venture capital investment and startup formation. The association lobbies for favorable tax policy, including qualified small business stock provisions, and engages with agencies like the Securities and Exchange Commission on regulation affecting emerging growth companies. It was instrumental in advocating for the EB-5 visa program reforms and continues to push for immigration policies that retain entrepreneurial talent. Key initiatives also address capital formation, such as supporting changes to the Accredited investor definition and modernizing private offering rules.

Impact and influence

The association has significantly shaped the landscape of American capitalism by helping to channel risk capital into transformative companies like Genentech, Apple Inc., and Google. Its advocacy is credited with contributing to a regulatory environment that enabled the rise of major technology companies and biotechnology firms. The organization's research and data are widely cited by institutions like the Brookings Institution and the National Bureau of Economic Research in discussions on economic growth. Through its efforts, it has bolstered the venture capital industry's role as a fundamental driver of job creation and technological advancement in the United States. Category:Venture capital organizations Category:Trade associations based in Washington, D.C. Category:Organizations established in 1973