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Explore the fundamentals of capital raising with the Office of the Advocate for Small Business Capital Formation.

Getting Ready to Raise Capital

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How do I know when I am ready to raise capital from investors?

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What different types of securities are issued to startup investors?

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What are the differences in friends and family, angel investors, and venture capital funds?

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What is the SEC?

Early-Stage Capital Raising

What pathways are available to raise capital from investors?

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What is the role of accredited investors?

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What is general solicitation?

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What is integration?

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What is a broker-dealer?

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How do private funds provide capital to early-stage companies?

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How do I start a fund?

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How do investors diversify risk?

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What happens if a startup does not comply with securities laws?

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What is Form D?

Later-Stage Capital Raising

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How do startups “exit” or provide liquidity to investors?

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I've raised early-stage capital. What next?

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What is a private secondary market?

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What does it mean to be a public company?

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How do I know when I am ready to go public?

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What are the differences in an IPO, a SPAC, and a direct listing?

Have ideas, suggestions, or questions we should answer? Email smallbusiness@sec.gov.