The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation issued its 2024 Annual Report just recently. The Office is required to deliver an annual report to Congress, to the Committee on Banking, Housing and Urban Affairs of the U.S. Senate and the Committee on Financial Services of the U.S. House
Upcoming SEC Small Business Advisory Committee Meeting
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
Qualifying Venture Capital Funds Inflation Adjustment
The Securities and Exchange Commission adopted Rule 3c-7, which adjusts for inflation the dollar threshold used in defining a “qualifying venture capital fund” under the Investment Company Act, as required pursuant to Section 504 of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 (“EGRRCPA”). The final rule allows the SEC to adjust
Founder Friendly Funding: The State of the Venture Markets
Based on data in Carta’s recently published State of the Markets report, the venture markets have experienced a slight uptick in number of deals and in dollars raised quarter-over-quarter. Companies on Carta’s platform completed 4% more deals and raised 12% more capital during the second quarter of 2024 compared to the first quarter. During the
Crowdfunding Report Shows Increasing Reliance on Regulation CF Deals & Disparities in Participation by Women & Minorities
Introduced under Title III of the JOBS Act, Regulation Crowdfunding (“Regulation CF”) was promulgated to allow startups and emerging companies to raise capital from a wider pool of investors through equity crowdfunding platforms. Regulation Crowdfunding allows non-accredited investors to invest through these platforms. Currently, a company may raise up to $5 million in a 12-month
The SEC and Capital Formation
Not long ago, the SEC hosted the Annual Small Business Forum. The Forum provides an opportunity to consider a broad array of issues affecting private companies as well as smaller public companies seeking to raise capital and allows the public an opportunity to comment and suggest policy recommendations. In the last few years, the SEC
House to Consider Capital Formation Bills
On March 5, 2024, the House will consider capital formation related legislation, H.R. 2799. This was originally introduced in April 2023 and reported out in July 2023. It is comprised of 19 separate bills. The House Financial Services Committee heard testimony on these bills in 2023, access my testimony on several of these bills.
SEC Small Business Capital Formation Advisory Committee Meeting
The Securities and Exchange Commission recently an announced an upcoming meeting to be held on September 19, 2023. The agenda includes a discussion with the SEC’s Division of Corporation Finance relating to its role in capital formation. There have not been any recent SEC proposed rulemakings related to this area recently. However, the agenda does
Introducing Springboard from Mayer Brown
Springboard is Mayer Brown’s new resource where you’ll find insights and tools tailored for emerging companies and their investors—from initial structuring, capital-raising alternatives and employee benefits information to IP and cyber updates.
Please visit springboard.mayerbrown.com/
Silicon Valley Bank Emerging Company Resource Center
As part of our continued support for emerging companies and investors impacted by the SVB receivership, we launched a legal resource center with additional Q&As and specific legal form documents that are freely available.