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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.
Introduced
Jul 16, 2025
Last Action
Dec 2, 2025
Session
119th Congress
Sponsors
1 primary · 1 co
Passage Probability
3% — Very Low
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mr. Davidson moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules.
DEBATE - The House proceeded with forty minutes of debate on H.R. 4429.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Motion to reconsider laid on the table Agreed to without objection.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-246.
Placed on the Union Calendar, Calendar No. 203.
Committee Consideration and Mark-up Session Held
Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 2.
Introduced in House
Referred to the House Committee on Financial Services.
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
3%
Estimate based on legislative signals
See what factors are driving this score — cosponsor support, bipartisan backing, committee progress, and more.
Upgrade to ProReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.