Latest news with #NVCA
Technical.ly
4 days ago
- Business
- Technical.ly
VC slowdown continues as Philly startup funding hits a five-year low
Venture capital went down in Philly again last quarter, falling to its lowest levels since 2020. Companies in the Philadelphia region raised $394.4 million across 83 deals in Q2 2025, according to the latest Venture Monitor report, released quarterly by PitchBook and the National Venture Capital Association (NVCA). That's down again from last quarter, when startups in the region raised $750 million across 114 deals. The Q1 results had already disappointed investors who were optimistic heading into 2025. This is the lowest quarter for VC activity since Q1 2020, when the region raised $333 million over 100 deals. These numbers aren't surprising given the economic and policy uncertainty this year, especially in Q2, Dean Miller, president and CEO of the Philadelphia Alliance for Capital and Technologies, told 'Investors are very gun-shy to invest in companies that have any kind of exposure to the risks,' he said. Plus, companies are waiting to see whether they'll be impacted by potential policy changes like tariffs. Usually, Q2 is a 'catch-up quarter' from Q1, according to Howard Lubert, regional president of Keiretsu Forum Mid-Atlantic. The April to June period tends to be stronger because delayed deals at the end of the previous year finally close, making the Q2 2025 numbers seem especially low. This year's deal count shows that new deals aren't making it through due diligence and existing deals are falling through, he said. 'It's a sign that investor hesitancy isn't letting up,' Lubert said. 'Founders are facing a capital environment that remains unforgiving.' How the 'Big Beautiful Bill' shaped the market Policy changes are also influencing the investment climate. The only sectors seeing big gains are those prioritized by the Trump administration, like defensetech and artificial intelligence, according to the report. Even then, most of that money went to a handful of companies, none of them in Philly. 'This all underscores the importance of forward-looking public policy,' said Bobby Franklin, president and CEO at NVCA. 'The recently enacted One Big Beautiful Bill Act delivers significant wins for founders and investors … However, the bill also introduces new complexities.' An expansion on Qualified Small Business Stock (QSBS) rules, a tax benefit for shareholders of qualified small businesses, could lead to more restructured deals aiming to support firms' existing portfolio companies, according to Lubert. But lean companies with short return-on-investment timelines will still take priority, he added. The new legislation also ensures permanent research and development expensing. Companies can deduct the costs of domestic research and development from taxable income in the year those costs are incurred, which will hopefully increase cash flow for companies, Miller said. There are new challenges, too. Changes to university endowment taxes mean the institutions with large endowments will face higher tax rates on their investments. The act also outlines plans to decrease investment in clean energy and transportation innovations. ' The Big Bill offers long-term benefits,' Lubert said. 'But those advantages only matter if strong companies are emerging and exits are possible.' There's still hope for a rebound Despite these low numbers, Philly's challenges are not unique and its diverse economy positions it for recovery, according to Miller. Philadelphia is home to a variety of strong industries, meaning it won't rely on just one sector to recover from these challenges, he said. Plus, Philadelphia is a top ecosystem for early-stage companies, which don't rely on venture capital to grow, and challenging times often lead to more new startups, according to Miller. For later-stage founders, hope is not lost, though. Generally, the region is still raising more than it was ten years ago. The best founders are still working towards raising money and the best companies with the best teams will succeed, he said. For example, Sojo Industries raised $40 million and Fore Biotherapeutics raised $38 million last quarter, both of which were among the region's top 5 deals. 'I'm a big believer in 'raising customers,'' Miller said. 'So focusing on your business, your product, your go-to-market, and most importantly, your attraction of customers, is mission critical in these types of environments.'
Yahoo
05-06-2025
- Business
- Yahoo
Alex Doll Joins National Venture Capital Association Board of Directors
Ten Eleven Ventures Co-founder Will Support NVCA's Mission to Advance the Entrepreneurial Ecosystem and Improve IPO Access for High-Growth Companies BURLINGAME, Calif., June 05, 2025--(BUSINESS WIRE)--Ten Eleven Ventures, the original cybersecurity-focused, global, and stage-agnostic investment firm, today announced that its co-founder and managing general partner, Alex Doll, has been appointed to the National Venture Capital Association (NVCA) Board of Directors. Doll brings extensive experience as a venture investor and a deep strategic understanding of the cybersecurity landscape to the NVCA. At Ten Eleven Ventures, he has successfully led investments in over 60 cybersecurity startups and scale-ups, already guiding 17 to successful exits, including notable IPOs such as Ping Identity, Darktrace, and KnowBe4. As a member of the NVCA Board, Doll will leverage his experience to strengthen the entrepreneurial ecosystem and help innovative startups more effectively navigate the transition from private to public markets. Doll's appointment also affirms the NVCA's growing recognition of cybersecurity's critical importance across venture capital and entrepreneurial ecosystems. As the founder of the industry's first cybersecurity specialist venture capital firm, Doll brings a distinctive perspective on the complex ways national security and geopolitics impact start-ups and scale ups in the cybersecurity industry. As a board member, he looks forward to adding insights on national security and geopolitical dynamics from the point of view of the cybersecurity industry. "We're thrilled to welcome Alex Doll to the NVCA board," said NVCA President and CEO Bobby Franklin. "Through his leadership in our National Security Working Group, Alex has consistently brought sharp insight and a deep commitment to safeguarding American innovation. Adding his perspective to NVCA's Board of Directors will be invaluable as we work to better serve the entrepreneurs tackling today's toughest challenges." "The NVCA plays a crucial role in advocating for policies that fuel innovation, facilitating strategic private-public partnerships, and nurturing an engaged venture community," said Alex Doll. "In today's challenging economic climate, cybersecurity startups face increasing obstacles in accessing public markets. To sustain innovation and scalability in this critical sector, we must evolve our regulatory frameworks and ecosystem support to streamline and demystify the IPO process. Additionally, we must remain steadfast in our commitment to funding groundbreaking research, protecting intellectual property, and strengthening national cybersecurity resilience. I'm committed to working with the NVCA and policymakers to drive meaningful change on these important matters." The appointment also underscores Doll's deep-rooted commitment to the NVCA's mission, continuing a family legacy of leadership. Alex's father, Dixon Doll, served multiple terms on NVCA's board, including as Chairman during the critical passage of the U.S. JOBS Act in 2012. That landmark legislation marked a rare alignment between government and business, fostering significant advancements in innovation, infrastructure, entrepreneurship, and job creation. The NVCA remains dedicated to advocating for public policies, facilitating strategic collaboration, and providing resources to empower venture capital firms and startups. Doll's expertise and visionary leadership will be pivotal in advancing NVCA's ongoing efforts to strengthen the foundations of high-growth businesses across America. More details on the new board appointments can be found here. About Ten Eleven Ventures Ten Eleven Ventures is the original cybersecurity-focused, global and stage-agnostic investment firm. The firm finds, invests in and helps grow top cybersecurity companies addressing critical digital security needs, tapping its team, network and experience to help build successful businesses. Since its founding, Ten Eleven Ventures has raised over $US1 billion and made over 60 cybersecurity investments across stages worldwide, including KnowBe4, Darktrace, Axis Security, Twistlock, Verodin, Cylance and Ping Identity. For more information, please visit About NVCA 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 U.S. 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 View source version on Contacts Ten Eleven Ventures Press Contact: Monsy Carlomonsy@
Business Wire
05-06-2025
- Business
- Business Wire
Alex Doll Joins National Venture Capital Association Board of Directors
BURLINGAME, Calif.--(BUSINESS WIRE)-- Ten Eleven Ventures, the original cybersecurity-focused, global, and stage-agnostic investment firm, today announced that its co-founder and managing general partner, Alex Doll, has been appointed to the National Venture Capital Association (NVCA) Board of Directors. 'We're thrilled to welcome Alex Doll to the NVCA board,' said NVCA President and CEO Bobby Franklin. Doll brings extensive experience as a venture investor and a deep strategic understanding of the cybersecurity landscape to the NVCA. At Ten Eleven Ventures, he has successfully led investments in over 60 cybersecurity startups and scale-ups, already guiding 17 to successful exits, including notable IPOs such as Ping Identity, Darktrace, and KnowBe4. As a member of the NVCA Board, Doll will leverage his experience to strengthen the entrepreneurial ecosystem and help innovative startups more effectively navigate the transition from private to public markets. Doll's appointment also affirms the NVCA's growing recognition of cybersecurity's critical importance across venture capital and entrepreneurial ecosystems. As the founder of the industry's first cybersecurity specialist venture capital firm, Doll brings a distinctive perspective on the complex ways national security and geopolitics impact start-ups and scale ups in the cybersecurity industry. As a board member, he looks forward to adding insights on national security and geopolitical dynamics from the point of view of the cybersecurity industry. 'We're thrilled to welcome Alex Doll to the NVCA board,' said NVCA President and CEO Bobby Franklin. 'Through his leadership in our National Security Working Group, Alex has consistently brought sharp insight and a deep commitment to safeguarding American innovation. Adding his perspective to NVCA's Board of Directors will be invaluable as we work to better serve the entrepreneurs tackling today's toughest challenges.' 'The NVCA plays a crucial role in advocating for policies that fuel innovation, facilitating strategic private-public partnerships, and nurturing an engaged venture community,' said Alex Doll. 'In today's challenging economic climate, cybersecurity startups face increasing obstacles in accessing public markets. To sustain innovation and scalability in this critical sector, we must evolve our regulatory frameworks and ecosystem support to streamline and demystify the IPO process. Additionally, we must remain steadfast in our commitment to funding groundbreaking research, protecting intellectual property, and strengthening national cybersecurity resilience. I'm committed to working with the NVCA and policymakers to drive meaningful change on these important matters.' The appointment also underscores Doll's deep-rooted commitment to the NVCA's mission, continuing a family legacy of leadership. Alex's father, Dixon Doll, served multiple terms on NVCA's board, including as Chairman during the critical passage of the U.S. JOBS Act in 2012. That landmark legislation marked a rare alignment between government and business, fostering significant advancements in innovation, infrastructure, entrepreneurship, and job creation. The NVCA remains dedicated to advocating for public policies, facilitating strategic collaboration, and providing resources to empower venture capital firms and startups. Doll's expertise and visionary leadership will be pivotal in advancing NVCA's ongoing efforts to strengthen the foundations of high-growth businesses across America. More details on the new board appointments can be found here. About Ten Eleven Ventures Ten Eleven Ventures is the original cybersecurity-focused, global and stage-agnostic investment firm. The firm finds, invests in and helps grow top cybersecurity companies addressing critical digital security needs, tapping its team, network and experience to help build successful businesses. Since its founding, Ten Eleven Ventures has raised over $US1 billion and made over 60 cybersecurity investments across stages worldwide, including KnowBe4, Darktrace, Axis Security, Twistlock, Verodin, Cylance and Ping Identity. For more information, please visit About NVCA 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 U.S. 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
Yahoo
05-06-2025
- Business
- Yahoo
NVCA Appoints Vineeta Agarwala as New Board Chair
WASHINGTON, June 5, 2025 /PRNewswire/ -- Today, the National Venture Capital Association (NVCA) announced that Vineeta Agarwala, MD, PhD, General Partner at Andreessen Horowitz, will serve as the Chair of the NVCA Board of Directors for the 2025-2026 term. "Vineeta brings a powerful perspective as both a venture investor and physician — someone who understands firsthand how innovation plays out in the real world, and how policy can accelerate or obstruct it," said NVCA President and CEO Bobby Franklin. "Her experience at the forefront of tech and investing gives her a lens on how smart policy and long-term capital can enable American startups. At a time when policy and innovation are deeply intertwined, she'll help NVCA champion a policy environment where innovation can continue to flourish." "As AI and technology reshape every sector — from healthcare and energy, to education and infrastructure — the role of venture capital has never been more critical," said Vineeta Agarwala. "As NVCA Board Chair, I'm honored to help bridge innovation and impact by working with investors, startup founders, and policymakers to ensure that the U.S. remains the best and most competitive environment to build the future." Agarwala succeeds Byron Deeter, Partner at Bessemer Venture Partners. "What set him apart was his deep interest in how policy shapes venture capital—and his determination to ensure our industry is fully engaged and impactful. Under his leadership, the board traveled to D.C. more in pursuit of building strong relationships with policymakers and reinforcing the critical connection between entrepreneurship and national competitiveness," said Franklin. NVCA also announced the appointment of eight new directors to its Board of Directors, each of whom will serve a four-year term from 2025-2029: Adam D'Augelli, True Ventures Alex Doll, Ten Eleven Ventures Alyssa Jaffee, 7wire Ventures Andrew Adams, Oak HC/FT Amy Wu Martin, Menlo Ventures Graham Brooks, .406 Ventures Navid Farzad, Frist Cressey Ventures Sandy Grippo, Bessemer Venture Partners 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 U.S. 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 View original content to download multimedia: SOURCE National Venture Capital Association
