August 20, 2013
Dear Ms. Murphy,
As an accredited investor, serial entrepreneur and long-time startup ecosystem participant, the proposed amendments (File Number S7-06-13) would severely hamper the raising of capital for startups. As an AngelList investor I refer you to the previously submitted comments by AngelList CEO Naval Ravikant for reference:
While I laud your efforts at the SEC to safeguard the public trust with regard to investments in small, unproven ventures, I believe that a focus on ensuring that an investor is indeed accredited will more ably safeguard this market than will the imposition of regulations that will produce a high likelihood that the positive benefits of the JOBS Act will be undermined or reversed.
Please feel free to contact me at any time to review these comments as you determine the final form of these new regulations.
David E. Antila
Managing Partner, Product Strategy Partners, LLC
2225 E. Bayshore Road
Palo Alto, CA 94303