H.R. 4429 · 119th Congress · Finance and Financial Sector
Developing and Empowering our Aspiring Leaders Act of 2025
Unknown; bill title is acronym without available summary. AI-read
What it does
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.
Summary by the Congressional Research Service, Jul 16, 2025 (Introduced in House). CRS summarizes bills impartially; it does not take positions.
Roll call votes
No recorded roll call votes on this bill. Most bills never get one; many pass by voice vote or unanimous consent, or stay in committee.
Latest action
Dec 2, 2025 · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.