summary
Introduced
04/13/2023
04/13/2023
In Committee
04/13/2023
04/13/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To require the Securities and Exchange Commission to revise the definition of a qualifying investment, for purposes of the exemption from registration for venture capital fund advisers under the Investment Advisers Act of 1940, to include an equity security issued by a qualifying portfolio company and to include an investment in another venture capital fund, and for other purposes.
AI Summary
This bill requires the Securities and Exchange Commission (SEC) to revise the definition of a "qualifying investment" for the purposes of the exemption from registration for venture capital fund advisers under the Investment Advisers Act of 1940. Specifically, the bill directs the SEC to include an equity security issued by a qualifying portfolio company, whether acquired directly or through a secondary acquisition, as well as investments in other venture capital funds, as qualifying investments. The bill also requires venture capital funds to have predominantly qualifying investments that were either acquired directly from a qualifying portfolio company or are investments in other venture capital funds.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 04/13/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/2579/all-info |
| BillText | https://www.congress.gov/118/bills/hr2579/BILLS-118hr2579ih.pdf |
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