The Securities and Exchange Commission recently announced that its Small Business Capital Formation Advisory Committee will be meeting later this week on November 13th in an open meeting. The meeting includes a discussion of how venture capital fund managers are raising capital. The Committee will hear from an academic on venture capital fund manager use of relationship-based versus general solicitation approaches to fund-raising. The Committee also will discuss the exemptions from Investment Company Act and Advisers Act registration requirements relied on by funds and managers. Robert Holowka, Branch Chief, and John Cavanagh, Senior Counsel, of the Private Funds Branch of the Investment Adviser Regulation Office, Division of Investment Management, will provide a brief overview of the registration framework applicable to private fund advisers and their funds. See the detailed agenda.
