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118-hr-2790Committee
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Improving Capital Allocation for Newcomers Act of 2021

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Summary

Official CRS summary

[sic] 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 2000 persons and $150 million, respectively.

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Bill details

Congress
118
Bill type
hr
Introduced
April 20, 2023
Sponsor
Not yet available
Last action
April 20, 2023— Referred to the House Committee on Financial Services.

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