Dec 3

Past Event

Promoting Innovative Growth: Venture Capital, Growth Equity and IPOs

Video

Highlights

Audio

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Summary

Young companies have been shown to be a crucial driver of employment growth and innovation in the American economy. Yet in recent years, these critical firms have struggled to raise capital. Venture capital funding—the major funder of technologically innovative firms—has never recovered from its peak in 1999-2000. Many smaller growth equity funds have struggled to raise capital as large institutions concentrate their funding into fewer funds, seeking to limit the number of relationships they must manage. Meanwhile, the path from private to public ownership has become more daunting. In response to these circumstances, Congress—in a rare display of bipartisanship—enacted the JOBS Act, which relaxes the barriers that small firms face when going public and facilitates the raising of capital through “crowdfunding.” But it remains to be seen the extent to which these policies will ease the financing challenges facing high-potential firms.

On December 3, Economic Studies at Brookings and the Private Capital Research Institute examined the challenges that the financing system faces, recent changes, and the likely future of entrepreneurial finance.

Event Agenda

  • 9:30

    Welcome

  • 9:45

    Presentation: Financing Choices of Young Firms

    • David Robinson

      Professor of Finance

      Duke University – Fuqua School of Business

  • 10:25

    Panel One: Growth Equity

    • Moderator

      Ronnie Chatterji

      Professor

      Duke University – Fuqua School of Business

    • Brad Antle

      CEO

      Salient Federal Solutions

    • Walter Florence

      Managing Director

      Frontenac Company

    • Braun Jones

      M&A Managing Director

      Outcome Capital

    • Chuck Morton

      Partner

      Venable LLP

  • 11:30

    Presentation: IPO Market

    • Jay Ritter

      Cordell Professor of Finance

      University of Florida

  • 12:15

    Panel Two: Sources of Capital for Funds

    • Moderator

      Josh Lerner

      Jacob H. Schiff Professor of Investment Banking

      Harvard Business School

    • Eric Doppstadt

      Vice President and Chief Investment Officer

      Ford Foundation

    • Scott Kalb

      Vice Chairman, WE Forum Global Agenda Council on Long-term Investment; Advisory Committee, Private Capital Research Institute

      CEO at KLTI Advisors

    • Pierre Lavallée

      VP and Head of Funds & Secondaries

      Canadian Pension Plan

    • Joncarlo Mark

      founder

      Upwelling Capital Group LLC

  • 1:30

    Presentation: Crowd Funding – The New Frontier

    • Ajay Agrawal

      Peter Munk Professor of Entrepreneurship

      Rotman School of Management, University of Toronto

  • 2:15

    Keynote

    • Congressman Jim Himes (D-CT)

      Member, House Committee on Financial Services

Details

December 3, 2012

9:30 AM - 2:45 PM EST

Brookings Institution

Falk Auditorium

1775 Massachusetts Avenue, N.W.

Map

For More Information

Brookings Office of Communications

202.797.6105