WASHINGTON – Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), announced the recognition of Argosy Private Equity of Wayne, Pa., and Mizzen Capital, LP of Stamford, Conn., as the 2024 Small Business Investment Companies (SBICs) of the Year. The awards ceremony will take place during National Small Business Week from April 28 to May 4.

Guzman praised the awardees, stating, "Filling capital gaps is core to the SBA’s mission, and we rely on an incredible network of SBIC-licensed funds to help us deliver. I am proud to recognize two exceptional SBIC funds which, in addition to claiming successful investment track records, demonstrate unwavering support for expanding capital access to small businesses across the nation – especially in underserved and often under-capitalized markets."

Bailey DeVries, Associate Administrator of the SBA’s Office of Investment and Innovation, highlighted the significance of the awards, stating, "Every year, the SBA recognizes emerging and established fund managers in the SBIC Program that exemplify the SBIC program mission and values."

Mizzen Capital, LP, based in Stamford, Connecticut, was recognized as the Emerging Manager of the Year. Marilyn Adler and Elizabeth ‘Liddy’ Karter, Managing Partners of Mizzen Capital, LP, shared their firm's objective, stating, "Mizzen’s objective is to provide debt investments into U.S.-based, underserved companies in the lower middle market, tailoring capital structures to fit small businesses' needs while prioritizing diversity, equity, and inclusion at every level of investment strategy."

On the other hand, Argosy Private Equity of Wayne, Pennsylvania, was awarded the Established Manager of the Year. Kirk Griswold, Founding Partner of Argosy Private Equity, explained their objective, saying, "Argosy’s objective is to grow the revenue and profit of small businesses by improving operations and ultimately spurring job creation."

The SBA's Office of Investment and Innovation administers the SBIC of the Year award. More information on the SBIC program can be found on the SBA's website.

For more details about National Small Business Week, visit www.sba.gov/NSBW.