Timelines: 1973
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The National Venture Capital Association
A growing sense of collective identity
A group of leading venture capitalists establishes the National Venture Capital Association (NAVC). The organization is headquartered in Washington, D.C. Its mission is to promote the interests of the budding industry in legislative and policy processes. The group’s appearance reflects the growing importance of risk management in wealth creation and economic growth. The impending formation and expansion of the biotechnology industry will depend crucially on venture capital investments.