Bailey DeVries

From 2021 to 2025, Bailey DeVries served as Associate Administrator and Head of the SBA’s Office of Investment and Innovation, where she led the agency’s $48 billion portfolio of private fund investments and $4 billion in annual innovation funding programs.  In this role, Ms. DeVries managed federal programs that provide America’s smalls businesses and startups with access to private equity and debt financing, as well as R&D contracts and grants to stimulate innovation and economic growth.  These programs include the Small Business Investment Company (SBIC) Program, the Small Business Innovation Research and Technology Transfer Programs (SBIR/STTR), and SBA’s innovation ecosystem support organization (ESO) programs, including the Growth Accelerator Fund Competition (GAFC) and the Federal and State Technology Partnership Program (FAST).

In 2023, she was the Acting Head of the SBA’s Office of Capital Access, where she led the agency’s portfolio of loan programs including SBA’s flagship 7(a) Business Loan Guaranty Program, the 504 Certified Development Company Loan Program, the Microloan Program, the Paycheck Protection Program (PPP), and the Surety Bond Guaranty Program.

Ms. DeVries also served on the U.S. Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee, which was established by Congress in 2016 to provide the Commission with advice on its rules, regulations, and policies with regard to investor protections, maintaining fair, orderly, and efficient markets, and facilitating capital formation.

Prior to public service, Ms. DeVries served in strategy, capital formation, business development, and investment roles at Greenspring Associates, Trail Mix Ventures (TMV), T. Rowe Price Associates, and Sotera Defense Solutions (formerly Global Strategies Group).  She began her career in Washington, D.C. at Corporate Executive Board (CEB) in the firm’s financial services practice.

Ms. DeVries holds an M.B.A. from Georgetown University, an M.S. from Northwestern University, and a B.A. from Wake Forest University.  She lives in Baltimore, Maryland with her husband, Lawson, and two daughters, Bryant and Blake.