NVCA Recognizes Senator’s Support –

AUSTIN, Texas – The National Venture Capital Association (NVCA) in late November presented Sen. Phil Gramm (R.-Texas) with the Steiger Award for outstanding service to the nation.

The NVCA recognized Gramm for his support of the venture capital and entrepreneurial community through his sponsorship of a capital-gains tax rate reduction and his support of research in the medical and technology arenas.

“Senator Gramm is one of the keen supporters of the venture capital industry, and the award recognizes his efforts,” said Brad Heppner, general partner and chief executive at the Crossroads Group, which sponsored the award luncheon in San Antonio, Texas.

Gramm is a proponent of banking system reform and the author of legislation that would allow small lenders to associate with multi-service banks to underwrite start-up companies in local areas.

The award, created in 1979 in memory of Congressman William Steiger, is annually to one or more public servants who, in the opinion of the NVCA board of directors, have contributed outstanding service to the nation. Past Steiger Award recipients include President Ronald Reagan, Vice President George Bush and Sen. Daniel Moynihan.

“I was pleased to accept this award from the NVCA because its members practice what I preach: that the surest route to peace and prosperity is by unlocking the capital markets for those who are willing to take the risk to promote future economic growth,” Gramm said.