Sara Lipscomb

Board of Advisors

In March 2019, Sara D. Lipscomb was appointed General Counsel of the Illinois Department of Commerce and Equal Opportunity in the Administration of Governor J.B. Pritzker. Prior to that in March 2009, she was appointed General Counsel of the United States Small Business Administration, and in November 2014, she became the Agency’s first Chief Risk Officer. In January 2007, Ms. Lipscomb launched a new business providing outside General Counsel, compliance, risk mitigation, and business services to middle market private equity firms and their portfolio companies and family offices.  For the previous seven years, Ms. Lipscomb served as Senior Vice President and General Counsel of Audax Group, a diversified alternative-asset management firm established in late 1999, managing in excess of $2.5 billion across two asset classes:  private equity and mezzanine debt.


Previously, she served as Counsel to the Chair of the Commodity Futures Trading Commission, and before that, as Senior Counsel in the Division of Enforcement of the Securities and Exchange Commission in Washington, DC. She has also worked as a litigator at law firms in Los Angeles and San Francisco.

Ms. Lipscomb earned a J.D. degree from Stanford Law School and an A.B. degree in Latin from Calvin College.

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