Developing and Empowering our Aspiring Leaders Act of 2022
This bill died when its Congress ended.
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This bill directs the Securities and Exchange Commission to revise venture capital investment regulations. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Under current law, non-qualifying investments—which include secondary transactions and investments in other venture capital funds—may comprise up to 20% of a venture capital fund. The bill allows investments acquired through secondary transactions or investments in other venture capital funds to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the fund's investments must predominately (1) be acquired directly, or (2) be investments in other venture capital funds.
Filed in the Senate
This senate bill has been filed and is working its way through Congress. It will need to pass both the Senate and the House, then be signed by the President to become law.
Who introduced this
Mike Rounds
RepublicanU.S. Senator · SD
Introduced solo — no cosponsors joined.
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