So what new course will the appointee, Bobby Franklin, chart for the association? We don’t yet know since the NVCA says Franklin is not granting interviews until he takes over in September.
But that shouldn’t stop you, our readers, from offering your thoughts and suggestions in the comments section below. I will start off the discussion with a suggestion of my own.
But first, some background on the new pres.
Franklin is no stranger to technology or Washington, D.C. He comes to the NVCA from the CTIA, a trade association for the wireless communications industry, where he is an executive vice president. He was head of ALLTEL’s Washington office before that and earlier in his career worked in the office of Senator David Pryor (D-AR).
Franklin however is a newbie to venture capital. He will face some on-the-job training when he takes over in September.
Nonetheless, in an interview this week retiring President Mark Heesen suggested that Franklin already has his own vision for the association and a new path for it to follow. He was one of 11 finalists chosen by a search committee of Josh Green, chairman of the NVCA and a Mohr Davidow Ventures general partner; Ray Rothrock, a partner at Venrock and a former NVCA chairman; Tom Crotty, a senior advisor at Battery Ventures; and Jon Callaghan, a co-founder of True Ventures. So he has impressed some top industry leaders.
Still, finding a new course is an interactive process that includes listening to association members and others involved with the industry. So do Franklin a favor and offer your suggestions in the comments section below.
Here is mine:
Broaden the investor base for venture-backed IPOs. Do this by encouraging underwriters to permit greater retail participation in the initial trading of new issues. Crowdfunding is proof individual investors want to be involved with young companies. Yet few retail investors get their hands on newly issued stock until it has traded several times. The NVCA should encourage underwriter syndicates to include retail oriented firms, such as E*Trade. It is hard to forget how well early investors did with Microsoft more than 20 years ago.
Photo of Bobby Franklin from the CTIA Website.