NVCA Today

Much Has Been Accomplished During the Past Twelve Months - Challenging Year Lies Ahead

Without question this past year has been filled with historic changes in the global economy, in the policy and political arenas, and in the capital markets. With the support of our members, the NVCA worked throughout the ever-changing year to successfully retain the current carried interest tax provision, played an important role to ensure the inclusion of key CleanTech and basic R&D provisions in the economic stimulus package, and helped stop patent legislation which would have been detrimental to entrepreneurs. However, our work is no where near complete on a variety of issues that will either assist or hobble our industry.

The remainder of 2009 and beyond holds its own set of challenges, and NVCA is prepared to concentrate is efforts on the following:

• Assist in Reopening the IPO Process
• Taxation of Carried Interest
• Patent Reform
• Life Science & CFO Matters, including follow-on biologics and FAS 157
• Long-standing Capitol Hill Education Campaign - venture capital is the only asset class that creates jobs, builds communities, fosters innovation, and should not be regulated alongside hedge funds and LBOs.

In a tough economic environment our members understand more than ever the value of a dollar and have come to the conclusion that NVCA membership is critical. We continue to see new members join NVCA. Attendance in our complimentary-for-members webcasts is high, as is attendance for our Annual Meeting. Participation in cost saving programs such as VentureInsure, IntraLinks, and StartUpHire is growing. Our research continues to be top-notch and receives wide attention in the national press and blogs.

Please click here to view a PowerPoint presentation that showcases a variety of Association accomplishments during the past 12 months.

NVCA membership continues to thrive because of firms like yours which understand the value of a collective voice that has an outstanding story to tell. Your support is essential for our voice to continue to be heard.

Your firm's membership renewal information was sent to your firm's NVCA Point of Contact on May 1^st. Payment is due by June 1, 2009. Your firm's prompt response will enable us to concentrate on the pressing issues facing our industry.

Thank you for being an important part of the NVCA.