Content
Overview
The U.S. Small Business Administration (SBA)’s Office of Investment and Innovation established the Investment Capital Advisory Committee (ICAC) in 2022. The ICAC seeks to promote, expand, and strengthen lower-to-upper middle market private investment funds financing U.S. small businesses and startups. This applies particularly to small businesses and startups that are heavily under-allocated, growth oriented, or operating a component-level technology and/or production process in a DoD-designated Critical Technology Area. Key committee focus areas include:
- Promoting awareness of SBA investment programs,
- Fostering public-private engagement, and
- Addressing long-term capital access gaps for small businesses, startups, and their supporting investment managers.
All meetings are open to the public.
If you are interested in serving on the Investment Capital Advisory Committee, please email a letter of interest with applicable information about your relevant experience.
Report and recommendations
The ICAC released an inaugural report, the 2024 Report to the Administrator of the U.S. Small Business Administration, which highlights three recommendations relating to SBA’s role in:
- The patient capital investment ecosystem,
- Expanding existing patient capital strategies, and
- Modernizing SBA patient capital program management.
Committee members
Alice Beverly Cole’s career spans legal, investment banking, manufacturing, entertainment, federal service, and entrepreneurship. Her employers included Union Carbide, Eastman Kodak, Walt Disney, Office of Thrift Supervision, FDIC, and the SBA. Beverly’s congenial manner and contagious smile have worked in her favor, supporting her collaborative approaches to problem solving.
She has received accolades throughout her career for structuring complex investment banking, real estate transactions, and in mergers and acquisitions while at Eastman Kodak. During her tenure with Walt Disney, her executives supported her team’s efforts in strategic sourcing and vendor/ supplier inclusion. The company and Beverly received US Senatorial, Congressional, State, County, local, and international recognition for achievements in real estate construction, hospitality, packaging, technology, and entertainment areas. Beverly utilized quantitative methods to present suggested approaches, always showing cost savings, increased corporate revenues, increased customer attendance, and positive media coverage as her goals.
Beverly is a native Virginian who graduated from Boston University, Fordham Law School, and University of Penn (The Wharton School). She has served as a consultant and sits on several public, private, and non-project boards. She has held Governor and State appointments. Beverly has been a nationally and internationally sought-after speaker on various topics, including supplier/vendor inclusion, sustainability, health care, and wealth creation. The Secretary of Interior recently appointed her to the board of the National Park Foundation.
Beverly is a board member with Bank OZK and Founders First Capital Partners and a consultant to other small emerging impact funds. Beverly serves as the Manager of her family’s real estate business and leads a nonprofit fostering her passion for sharing her family’s knowledge on wealth building, real estate, and board service.
Brett Palmer has led the association representing the Small Business Investment Companies (SBIC) and the institutional Limited Partners that invest into SBICs for over 15 years. He is a leading authority on SBICs and small business investing. Mr. Palmer has a deep background in public and economic policy, having served as Assistant Secretary of Commerce for Legislative and Intergovernmental Affairs, Deputy Assistant Secretary of Commerce for Trade Legislation, and as Congressional staff, including service in the Policy Office for the Speaker of the House.
Mr. Palmer holds a degree in history from Davidson College.
Meetings
2024
- November 13, 2024
- October 1, 2024
- April 12, 2024
2023
- October 25, 2023
Supplemental information
Contact us
For general information:
U.S. Small Business Administration
Office of Investment and Innovation
409 3rd St., SW
Washington, DC 20416
Email: ICAC@sba.gov