Explore the fundamentals of capital raising with the Office of the Advocate for Small Business Capital Formation. Getting Ready to Raise Capital How do I know when I am ready to raise capital from investors? What different types of securities are issued to startup investors? What are the differences in friends and family, angel investors, and venture capital funds? What is the SEC? Early-Stage Capital Raising What pathways are available to raise capital from investors? What is the role of accredited investors? What is general solicitation? What is integration? What is a broker-dealer? How do private funds provide capital to early-stage companies? How do I start a fund? How do investors diversify risk? What happens if a startup does not comply with securities laws? What is Form D? Later-Stage Capital Raising How do startups “exit” or provide liquidity to investors? I've raised early-stage capital. What next? What is a private secondary market? What does it mean to be a public company? How do I know when I am ready to go public? 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.