Pipeline · Bill → Law
Step 1
Introduced
Apr 20, 2023
Step 2
Referred
Apr 20, 2023
Financial Services
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS 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.
Timeline · 2 actions
Apr 20, 2023
Introduced in House
Apr 20, 2023
Referred to the House Committee on Financial Services.