The U.S. Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee released the agenda for its 25 February 2025 meeting, which will address capital-raising challenges facing emerging fund managers and the hurdles facing small public companies that are not listed on a national securities exchange. The meeting will be available to the public via webcast on the SEC’s website. The morning session includes an overview of the SEC Office of the Advocate for Small Business Capital Formation’s 2024 Annual Report, including data on capital-raising activity from startup to small cap and the office’s policy recommendations. Discussion will then focus on ways to support and facilitate capital formation for emerging fund managers, with perspectives from Ashok Kamal of NuFund Venture Group and Sara Zulkosky of Recast Capital. The afternoon session will examine decision points and challenges for non-exchange-listed small public companies, including input from Dan Zinn of OTC Markets Group, with agenda materials hosted on the committee webpage.