S. 3351: Developing and Empowering our Aspiring Leaders Act of 2025
This bill, titled the Developing and Empowering our Aspiring Leaders Act of 2025, proposes changes to regulations that govern how venture capital fund advisers operate under U.S. law. Below is a summary of its main provisions:
Revision of Definitions
The bill requires the Securities and Exchange Commission (SEC) to make revisions to certain regulatory definitions associated with venture capital funds. Specifically, the SEC must:
- Qualifying Investments: Update the definition of a qualifying investment to include:
- Equity securities issued by a qualifying portfolio company, whether these are obtained directly from the company or through a secondary market.
- Investments made in other venture capital funds.
Conditions for Venture Capital Funds
The bill also sets specific conditions for what constitutes a qualifying venture capital fund. These conditions include:
- After acquiring any asset, the fund must ensure that it holds no more than 49% of its total capital contributions and uncalled committed capital (excluding short-term holdings) in:
- One or more venture capital funds.
- Qualifying investments obtained through a secondary acquisition, which must be valued at either their cost or fair value, consistently applied by the fund.
Implementation Timeline
The SEC is required to implement these revisions within 180 days of the enactment of this Act.
Impact of the Bill
The changes proposed in this bill aim to empower venture capital funds by broadening the types of investments that can be classified as qualifying. This could potentially facilitate greater investment flows into innovative companies and enhance the overall venture capital landscape.
Relevant Companies
- None found
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
2 bill sponsors
Actions
3 actions
| Date | Action |
|---|---|
| Dec. 04, 2025 | Introduced in Senate |
| Dec. 04, 2025 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Dec. 04, 2025 | None |
Corporate Lobbying
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Potentially Relevant Congressional Stock Trades
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