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119th Congress

H.R. 4429

Developing and Empowering our Aspiring Leaders Act of 2025

  1. Introduced
  2. In committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor
Ann Wagner(R-MO)
Introduced
Jul 16, 2025
Policy area
Finance and Financial Sector
Committees
House Committee on Financial Services; Senate Committee on Banking, Housing, and Urban Affairs
Official text
Referred in Senate · Congress.gov page

Cosponsors (1)

Added later (1)

Summary

Summary by the Congressional Research Service· describes the “Introduced in House” version

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.

Roll-call votes

No recorded votes on this bill.

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