Mr. Conwell Goes to Washington

Happy hump day, Baltimore. Thanks to those of you who chatted me up at Equitech Tuesdays last night, and sorry to those I couldn't catch — 'twas definitely one of the most packed Equitech Tuesdays I've ever attended. 

Today, we found out that McKeever "Mac" Conwell II, a noted founder and investor* in Baltimore, testified before the US House's Financial Services Subcommittee on Capital Markets. His testimony, which was related to the Improving Capital Allocation for Newcomers Act under consideration, touched on how the attendant legislation could help the underrepresented founders and funders he seeks to support. 

"The current rules limit the amount of capital and sources of capital for small and new investment funds, leading to less capital to help drive innovation, economic growth and job creation," he said. "Especially when we're talking about companies started by founders of color, because we know that in particular, Black-led funds are four times more likely to invest in Black-led companies." 

Watch Conwell's testimony here, at the 33:02 mark, and let us know what you think about his remarks and the potential legislation by emailing baltimore@technical.ly.