Developing and Empowering our Aspiring Leaders Act of 2025

Summary

Developing and Empowering our Aspiring Leaders Act of 2025 This bill directs the Securities and Exchange Commission to revise venture capital investment regulations to allow additional types of investments to be considered as qualifying investments. 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 regulations, 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

5 official files

• Referred in Senate

  Referred in Senate · EN · 2 December 2025

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• Engrossed in House

  Engrossed in House · EN · 1 December 2025

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• Reported in House

  Reported in House · EN · 8 September 2025

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• Introduced in House

  Introduced in House · EN · 16 July 2025

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• Introduced in House

  summary · EN · 16 July 2025

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