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

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

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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 happens if a startup does not comply with securities laws?

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

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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.