Capital-Raising Building Blocks

June 12, 2024

Explore the fundamentals of capital raising with the Office of the Advocate for Small Business Capital Formation.

Getting Ready to Raise Capital

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 Ready to Raise CAPITAL

 How do I know when I am ready to raise capital from investors?

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 Entrepreneurial Support Organizations

 Get the 411 on entrepreneurial support organizations.

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 Financial Statements: Balance Sheet

 Master the anatomy of the balance sheet.

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 Financial Statements: Income Statement

 Master the anatomy of the income statement.

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 Common Startup Securities

  What different types of securities are issued to startup investors?

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 Private Companies and the SEC

 What does the SEC have to do with my private company?

Early-Stage Capital Raising

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 Offering Pathways

 What pathways are available to raise capital from investors?

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 General Solicitation

  What is general solicitation?

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Integration

What is “integration” and why does it matter?

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Broker-Dealers

What is a broker-dealer?

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Form D

What is a Form D and how do I file it?

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Consequences of Noncompliance

What happens if a startup does not comply with securities laws?

Small Business Investors

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Accredited Investors

What is the role of accredited investors?

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Private Funds

How do private funds provide capital to early-stage companies?

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Starting a Private Fund

What do I need to know before starting a private fund?

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Diversifying Risk

How do early-stage investors diversify risk?

Later-Stage Capital Raising

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Exits Strategies and Liquidity

How do startups “exit” or provide liquidity to investors?

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Raising Later-Stage Capital

I’ve raised early-stage capital. What comes next?

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Private Secondary Markets

What is a private secondary market?

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Regulation A

What is a Regulation A offering?

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Public Companies

What does it mean to be a public company?

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Ready to Go Public

How do I know when I am ready to take my company public?

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Types of Registered Offerings

What are the differences in an IPO, a SPAC, and a direct listing?

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SEC Filing Review Process

What should I expect from the SEC’s filing review process?

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SEC Filer Status and Reporting Status

What are filer and reporting statuses and how do they affect public company reporting requirements?

Have ideas, suggestions, or questions we should answer? Email smallbusiness@sec.gov.

Last Reviewed or Updated: Dec. 10, 2024