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United States · Bill · HR

H.R. 4227 (117th)

Developing and Empowering our Aspiring Leaders Act of 2022

referredUnited States· United States Congress· EN

Introduced

29 June 2021

Last action

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Status

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

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Subjects

Discovery layer

Source updated

28 May 2025

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Summary

Developing and Empowering our Aspiring Leaders Act of 2021 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.

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Documents

8 official files

Referred in Senate (text)

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