Improving Capital Allocation for Newcomers Act of 2021

H.R. 2790 · 118th Congress · Apr 20, 2023 · Lineage

A BILL

To amend the Investment Company Act of 1940 with respect to the definition of qualifying venture capital funds, and for other purposes.

This Act may be cited as the “Improving Capital Allocation for Newcomers Act of 2021”.

Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–3(c)(1)) is amended—

(1)

in the matter preceding subparagraph (A), by striking “250 persons” and inserting “2,000 persons”; and

(2)

in subparagraph (C)(i), by striking “$10,000,000” and inserting “$150,000,000”.