On Thursday, April 19, 2012, at 10:00 a.m. the Committee on Small Business Subcommittee on Economic Growth, Tax and Capital Access conducted a hearing entitled Equity Finance: Catalyst for Small Business Growth. The hearing began at 10:00 A.M. on April 19, 2012, in Room 2360 of the Rayburn House Office Building.

Equity financing is a funding method where a business owner sells a percentage of their company in exchange for an ownership stake. Because many start-up businesses do not have sufficient assets to pledge as collateral to secure a bank loan, equity finance is an important source of funding. Equity finance provides not only growth capital, but also strategic partners who are invested in the business’s success. Witnesses discussed the affect of the current regulatory environment on equity finance and ways to strengthen the entrepreneurial funding ecosystem.

Opening Statement:

The Honorable Mick Mulvaney (R-SC)

Witnesses and Testimony:

Mary Dent, General Counsel, SVB Financial Group, Palo Alto, CA

• Testimony 
• Witness Disclosure

Jason W. Best, Co-Founder, Startup Exemption, San Francisco, CA

• Testimony 
• Witness Disclosure

Tony Shipley, Founder and Chairman, Queen City Angels, Cincinnati, OH

• Testifying on Behalf of the Angel Capital Assocation
• Testimony 
• Witness Disclosure

Angela Jackson, Managing Director, Portland Seed Fund, Portland, OR

• Testimony 
• Witness Disclosure

Additional Items:

Official Hearing Notice

Official Witness List

Official Hearing Memo

Hearing Video

Press Release