San Francisco, CA (PRWEB) May 15, 2013
The National Venture Capital Association (NVCA) presented Kate Mitchell, co-founder of Scale Venture Partners, with its Outstanding Service Award today. Mitchell, who served as the 2010-2011 chair of the NVCA Board of Directors, accepted the award at NVCA’s annual meeting – renamed VentureScape -- in San Francisco in front of hundreds of venture capitalists gathered for the NVCA’s 40th anniversary.
NVCA established the Outstanding Service Award in 1999 to recognize the exceptional service of NVCA members who have committed their time, resources and dedication to projects that benefit the entire venture community. Mitchell earned the award through her tireless advocacy efforts on behalf of the venture capital and startup communities, and specifically for her leadership role in the creation and eventual passage of the IPO On Ramp Provision of the 2012 JOBS Act.
“Kate’s tireless commitment to seeing the JOBS Act enacted into law was nothing short of remarkable,” said Mark Heesen, president of the NVCA. “She owned the process from the outset, collaborating with all interested stakeholders, developing reasonable and effective provisions, navigating the political dynamics, and demonstrating grace under enormous pressure. One year after passage, the IPO process is no longer the daunting task that it once was – and, thanks to Kate, venture-backed companies have a smoother path to the public markets.”
The IPO On-Ramp provisions allow emerging growth companies to explore and participate in the initial public offering process in a manner more commensurate with their size and stage of development. Companies under $1 billion in revenues now have temporary regulatory relief for up to five years after going public, so that they can focus their limited resources on growing their businesses. These provisions were drafted by the IPO Task Force, which Kate established and led in the summer of 2011. Comprising private professionals operating in the capital markets ecosystem, including IPO buyers, the IPO Task Force committed itself to identifying the challenges faced by emerging growth companies and then developed recommendations on how to address these issues.
In addition to her role in the passage of the JOBS Act, Kate served as an NVCA Board member from 2007-2011 and chaired the association from 2010-2011. During her tenure, Kate testified before Congress and met with legislators and policy-makers on tax issues, regulation, capital markets and other issues critical to the startup and venture capital ecosystems. She also spearheaded the re-branding of NVCA in 2011.
With this honor, Kate joins an illustrious group of past recipients whose work in public policy positively impacted the venture capital industry in a significant way. These honorees include Ted Schlein of Kleiner Perkins, Jack Lasersohn of The Vertical Group, Bob Pavey of Morgenthaler, Kathy Behrens of Robertson Stephens and John Doerr of Kleiner Perkins.
About Kate Mitchell
Ms. Mitchell is a co-founder of Scale Venture Partners, a Silicon Valley venture capital firm with $900 million under management that invests in early-in-revenue technology companies. In addition to her investing activities, Ms. Mitchell oversees all operational aspects of the partnership. She has actively worked with portfolio companies such as Jaspersoft, mBlox, Tonic Software, and Wayport. From 2010-2011, Ms. Mitchell served as chair of the National Venture Capital Association (NVCA), and remains active in policy matters that impact startups and innovation. Additionally, Ms. Mitchell is a current board member of Silicon Valley Bank.
In 1997, Ms. Mitchell joined the Bank of America investment team, which in 2000 began operating independently from the bank and in 2006 became Scale Venture Partners. From 1995 to 1997, Ms. Mitchell was senior vice president in Bank of America's Internet banking division and, prior to that, was a senior member of the bank's capital markets, technology and finance groups. Ms. Mitchell received a B.A. in Political Science from Stanford University as well as an M.B.A. from its business school.
Venture capitalists are committed to funding America’s most innovative entrepreneurs, working closely with them to transform breakthrough ideas into emerging growth companies that drive U.S. job creation and economic growth. As the voice of the U.S. venture capital community, the National Venture Capital Association (NVCA) empowers its members and the entrepreneurs they fund by advocating for policies that encourage innovation and reward long term investment. As the venture community’s preeminent trade association, NVCA serves as the definitive resource for venture capital data and unites its 400 plus members through a full range of professional services. For more information about the NVCA, please visit http://www.nvca.org.