Improving Capital Allocation for Newcomers Act of 2021
- Last Action
- 6/29/2021
CRS Summary
As of 2021-06-29 (00)
Improving Capital Allocation for Newcomers Act of 2021
This bill revises qualification requirements for venture capital funds. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Currently, an investment firm qualifies as a venture capital fund if, among other requirements (1) the fund's securities are owned by 250 persons or less, and (2) the fund has $10 million or less in aggregate capital contributions and uncalled committed capital. The bill increases these amounts to 600 persons and $150 million, respectively.
Sourced from Congress.gov (public domain).
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