H. R. 4243
IN THE HOUSE OF REPRESENTATIVES
June 29, 2021
Mr. Timmons introduced the following bill; which was referred to the Committee on Financial Services
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.
Qualifying venture capital funds
Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–3(c)(1)) is amended—
in the matter preceding subparagraph (A), by striking
250 persons and inserting
600 persons; and
in subparagraph (C)(i), by striking
$10,000,000 and inserting