summary
Introduced
04/20/2023
04/20/2023
In Committee
04/20/2023
04/20/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Investment Company Act of 1940 with respect to the definition of qualifying venture capital funds, and for other purposes.
AI Summary
This bill amends the Investment Company Act of 1940 to expand the definition of qualifying venture capital funds. Specifically, it increases the maximum number of investors in a qualifying venture capital fund from 250 to 2,000 persons, and it raises the maximum value of the fund's total assets from $10 million to $150 million. These changes are intended to make it easier for new and emerging companies, often referred to as "newcomers," to access venture capital funding.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 04/20/2023)
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/2790/all-info |
| BillText | https://www.congress.gov/118/bills/hr2790/BILLS-118hr2790ih.pdf |
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