SEC Small Business Advisory Committee to Continue Discussing Challenges Facing Emerging Fund Managers, and Explore Hurdles for Small Public Companies Not Listed on a National Securities Exchange

The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee today released the agenda for its meeting on Tuesday, Feb. 25, 2025, which will include discussion of capital raising challenges facing emerging fund managers and hurdles facing small public companies not listed on a national securities exchange. Members of the public can watch the live meeting via webcast on www.sec.gov.

The committee, which provides advice and recommendations to the Commission on rules, regulations, and policy matters relating to small businesses, will start the morning session by hearing from SEC Office of the Advocate for Small Business Capital Formation staff, who will provide an overview of its 2024 Annual Report, which includes in-depth data on the state of capital raising activity from startup to small cap along with the office’s policy recommendations. The committee will spend the rest of the morning exploring ways to support and facilitate capital formation for emerging fund managers, building upon ideas generated during a previous committee meeting. To facilitate discussion, committee members will hear from Ashok Kamal, Executive Director at NuFund Venture Group, and Sara Zulkosky, Co-Founder & Managing Partner at Recast Capital.

In the afternoon session, the committee will explore the challenges of small public companies not listed on a national securities exchange. Understanding the decision-points and challenges those companies face is critical to fostering access to capital for, and investor participation in, those smaller public companies. As part of the discussion, members will hear from Dan Zinn, General Counsel and Chief of Staff at OTC Markets Group.

The full agenda, meeting materials, and information on how to watch the meeting are available on the committee webpage.