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SEC Commissioner Peirce Touts Ways to Improve Access to Capital Including Clarity Regarding Finders, an Update to Accredited Investors and a Micro-Exemption
Earlier today the SEC
Small Business Capital Formation Advisory Committee held a meeting on facilitating access to capital to underserved segments of the country. As most people understand, small businesses and entrepreneurs drive the majority of job growth and wealth creation. While policies that encourage access to capital for risk-taking entrepreneurs remain key to a good economy, today much of the capital formation occurs in concentrated jurisdictions like the Bay area in California or New York City. Even more challenging than flyover country is providing access to capital for underserved markets like minorities and women.
Remarks At Meeting Of SEC Small Business Capital Formation Advisory Committee, Commissioner Hester M. Peirce, April 30, 2021 Date
30/04/2021
Thank you, Carla [Garrett] and the rest of the Committee members. I look forward to today’s discussion. Panels and discussions at prior Committee meetings have helped me think about ways to ensure that capital is able to reach communities that have previously seen little capital flowing their way. We have heard how most money comes from people within a founder’s own community, so we need both to empower and expand founders’ communities by embracing technology and maintaining open minds. I am going to keep my comments brief because I have mentioned most of these things before, but I continue to believe the following items are part of the solution to the problems you are going to discuss today:
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Ira S. Weiss is a clinical professor of accounting and entrepreneurship at the Chicago Booth School of Business and is a partner at Hyde Park Venture Partners.
When COVID-19 hit, there was a lot of concern about the possible impact of scrapping face-to-face business meetings, particularly among investors in startups, such as angel investors and venture capital. In both cases, personal interactions can tell investors a lot about the founders and executives who are asking for their money.
If angel investors and VCs curtailed their investing last year, it wasn t readily apparent. In 2020, VCs themselves poured more than $156 billion into the companies they backed, a 10 percent increase from the year before and the fifth year in a row of record investing, according to the National Venture Capital Association. While angel investment is difficult to measure, the Angel Capital Association s 2020 report put the number as high as $24 billion.
Next Wave Impact Reveals Finalists for 2021 Founders of Color Showcase
The diverse companies hail from seven U.S. states, represent six different industries and address 10 UN Sustainable Development Goals
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GLENWOOD SPRINGS, Colo., April 20, 2021 /PRNewswire/ After receiving nearly 50 nominations for its second annual Founders of Color Showcase, global impact investor syndicate Next Wave Impact has selected six finalists who will pitch their companies to an audience of investors, funds and angel groups on May 3, 2021. All founders of color, this year s innovative startup leaders tackle 10 of the United Nations 17 Sustainable Development Goals, and represent a range of industries including healthcare, education, environment, consumer and cleantech.