Business

Farrell’s ‘small enterprise proprietor’ designation will stand, dept. says


Mark Farrell can use the “small business owner” designation on the November ballot, the Department of Elections determined on Friday, denying two formal public challenges filed earlier this month. 

The department asked the candidate to provide documentation to justify the use of the designation. Farrell, in response, submitted a declaration, under the penalty of perjury, that his business meets the definition of a small business. 

“Thayer Partners Management Company, the small business where I spend the principal amount of my professional time, had revenues of less than $2 million for both the last 12 months and CYE [calendar year end] 2023,” Farrell wrote. 

The Department considers it “sufficient documentation” in response to the challenges, according to Matthew Selby at the Department. 

The challenges, filed in the past two weeks following Mission Local’s reporting, include a letter from 14 small business owners in San Francisco, and the other from an individual. 

The letters called the designation “purposefully designed to mislead voters” and that Farrell’s Thayer Ventures “is so far removed from what it means to be a small business in San Francisco,” from negotiating rents to struggles with payrolls.

Farrell, who is managing director of Thayer Ventures Management Services, received income of over $100,000 last year from this position, according to his financial disclosures

He reported an array of investments with his stakes more than 10 percent associated with Thayer Ventures. These investments add up to at least over $10 million, the disclosures show. 

Farrell’s campaign said it has “nothing else to add.”



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