Frontier Fund Seeks Green Light for Insider Small Biz Investment
Published Date: 4/22/2026
Notice
Summary
Frontier Fund I Alpha, LP wants special permission to invest in iCOUNTER, a company linked to one of its partners, John Watters. Because this deal could be a conflict of interest, the Small Business Administration is asking the public to share their thoughts within 15 days. This move could help small businesses get more funding while keeping things fair and transparent.
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Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Exemption request for iCOUNTER financing
Frontier Fund I Alpha, LP is asking the SBA for a written exemption under Section 312 and 13 CFR 107.730 so it can provide financing to iCOUNTER. The notice says this financing is a potential conflict because Associate John Watters owns more than 10% of iCOUNTER and holds a 3% interest in Frontier Fund I Alpha GP, LLC.
15-day public comment window
Any interested person may send written comments on the proposed exemption to the Associate Administrator, Office of Investment and Innovation, U.S. Small Business Administration, 409 Third Street SW, Washington, DC 20416 within fifteen days of this publication. The notice sets a 15-day comment period starting from the date of publication (Federal Register, April 22, 2026).
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