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— (1) in the matter preceding subparagraph (A), by striking 250 persons and inserting 500 persons; and (2) in subparagraph (C)(i), by striking $10,000,000 and inserting $50,000,000.

Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–3(c)(1)) is amended— (1) in the matter preceding subparagraph (A), by striking 250 persons and inserting 500 persons; and (2) in subparagraph (C)(i)— (A) by striking $10,000,000 and inserting $50,000,000; and (B) by striking beginning from a measurement made by the Commission on a date selected by the Commission and inserting beginning from a measurement made on the date of the enactment of the Improving Capital Allocation for Newcomers Act of 2025.