The National Association of Seed and Venture Funds (NASVF) was an organization that helped spread the knowledge of seed and angel investing throughout the country.

NASVF began informally in 1993 as an ad-hoc group of public sector practitioners seeking the best models to encourage capital formation in their states, particularly for new technology ventures. In 1997 the group incorporated and engaged Development Capital Networks (DCN) to launch and manage the National Association of State Venture Funds.

The name was later changed to reflect the association's expanding service to private sector funds and programs. From 1997 to 2008 NASVF’s membership grew from zero to over 200 organizations and 700 individuals. 112 field seminars were delivered in 32 states to train over 3,000 angel investors and catalyze the formation of angel networks. Annual conferences and research workshops were held across the country.

Today the NASVF serves as an information resource for policy makers on historical models.

Founding Board Members

  • Jim Benham, Arkansas Science & Technology Inc
  • Chip Cooper, Missouri Innovation Center
  • Robert Heard, NASVF
  • Woody Maggard, Delaware Technology Park
  • Richard Meyer, Orion Technical Associates
  • Nette Nelson, The Nelson Group
  • John Sibert, Alaska Science and Technology Foundation
  • Carl Snow, Utah Technology Finance Corp
  • Lee Tapscott, Indiana Business Modernization and Technology Corp
  • Don Welty, Utah Technology Finance Corp
  • Mike Williams, Louisiana Economic Development Corp


  • Robert Heard, 1997-1998
  • Dan Loague, 1998-2005
  • Charles Spies, 2004-2005
  • Susan Strommer, 2005-2008

Founding Board Chair

  • John Sibert, California State University Institute