News & Analysis as of

Venture Funding Investment Company Act of 1940 Securities and Exchange Commission (SEC)

Foley Hoag LLP

SEC Updates “Qualifying Venture Capital Fund” Threshold for Section 3(c)(1) Exemption Under the Investment Company Act

Foley Hoag LLP on

The two most common exemptions from registration under the Investment Company Act of 1940 (the “Act”) utilized by private funds are under Section 3(c)(7) and Section 3(c)(1). Funds that do not qualify for an exemption under...more

DLA Piper

Venture Capital Funds: 3(c)(1) Funds vs. 3(c)(7) Funds

DLA Piper on

Provided that they meet certain criteria, venture capital funds are not required to be registered as an “investment company” by the U.S. Securities and Exchange Commission (the “SEC”) under the Investment Company Act of 1940...more

Seward & Kissel LLP

SEC Proposes Update to Definition of Qualifying Venture Capital Fund

Seward & Kissel LLP on

Who may be interested: Boards of Directors, Investment Advisers, Compliance Staff - Quick Take: The SEC proposed Rule 3c-7 under the 1940 Act, which would inflation adjust the dollar threshold for a fund to meet the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Economic Growth, Regulatory Relief, and Consumer Protection Act: Impacts on Investment Companies

The Economic Growth, Regulatory Relief, and Consumer Protection Act (Consumer Protection Act), signed into law on May 24, 2018, includes certain provisions that are particularly relevant to investment companies, both...more

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