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SBA establishes an Investment Capital Advisory Committee

September 13, 2023

SBA's Office of Investment and Innovation has launched an Investment Capital Advisory Committee (ICAC) to serve as an independent source of advice and recommendations to SBA on institutional investment market trends, innovation, and policy impacting small businesses’ ability to access patient investment capital.

Committee members will examine the challenges facing capital markets, investment managers, small business entrepreneurs, and the stakeholders supporting them in these subject areas and recommend policy and programmatic changes to help strengthen and refine SBA’s programs and services to facilitate better the flow of investment capital to undercapitalized small businesses.

The committee will provide information and recommendations on how SBA can:

Promote greater awareness of SBA investment and innovation division programs and services.

Cultivate greater public-private engagement, cooperation, and collaboration.

Develop or evolve SBA programs and services to address long-term capital access gaps faced by small businesses and the investment managers that seek to support them.

The committee members are:

  • Arjun Gupta (Chair), Chief Believer, TeleSoft Partners
  • Carl Kopfinger (Vice Chair), Senior Vice President & Managing Director, TD Bank, N.A.
  • Alice Beverly Cole, Managing Partner, Cole Renwick, LLC.
  • Brett Palmer, President, Small Business Investor Alliance
  • David Corpus, EVP-Bank President, Stellar Bank
  • Derek Schmidt, Director, BlackRock
  • Jane E. Veron, CEO & Co-Founder, The Acceleration Project (TAP)
  • JoAnn H. Price, Co-Founder & Managing Partner, Fairview Capital Partners
  • Maria Kim, President & CEO, REDF
  • Melissa Bradley, General Partner, 1863 Ventures
  • Michael Staebler, Retired Partner, Pepper Hamilton LLP
  • Richard Moser, Former Principal, Phoenix Management Partners, LLC
  • Sharon Heaton, CEO & Founder, sbLiftOff

Stacy Swider, Vice President Investments, MassVentures (an SSTI member)

sba, investing