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Get Invested: Congress Takes on Venture Capital Access

Monday, April 11, 2016  
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WIPP Policy Update

Week of April 11, 2016

Get Invested: Congress Takes on Venture Capital Access

 

Focusing on the fact that women receive only 7% of venture capital funds, the House Small Business Committee highlighted an SBA program that can help in a field hearing last week in Pasadena, CA.  SBA’s partners, Small Business Investment Companies (SBICs), are directed to invest in small businesses including those located in low-income communities, rural areas and economically distressed areas.  Representative Judy Chu (D-CA) highlighted this program and the role it could be playing in addressing funding for women entrepreneurs.

 

According to a recent study by the Kauffman Foundation, 72% of women entrepreneurs listed access to capital as the most critical challenge to launching a new business.

 

In the past five years, SBICs have made 280 investments in women-owned firms totaling nearly $400 million.  In the last two years, investments for women have doubled and total dollars have quadrupled.  Under Chu’s leadership, the hearing advanced Congressional discussion surrounding availability of capital to start up firms and necessity of venture funds. WIPP has advocated for an emerging managers track within the SBIC program so women can engage in equity-based financing, which would help develop a generation of female fund managers. 

 


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