Venture capital, as it is known today, was almost non-existent until the National Association of Small Business Investments (NASBIC) formed in 1958. Since then members of the Washington, D.C., organization have invested more than $520 billion in some 85,000 small U.S. businesses - $4 billion of it in 1999.

Jim O'Donnell, chief executive of Commerce Bancshares' venture capital arm, Capital For Business, has been named chairman of the board of governors for the national organization and its 348 licensed companies.
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