HR4429Passed House
Developing and Empowering our Aspiring Leaders Act of 2025
Introduced
In Committee
Passed One Chamber
4
Passed Both5
Signed into Law119th
Congress
2025-07-16
Introduced
1
Cosponsors
HR
ⓘType
Sponsor
Ann Wagner
Republican · MO · Representative
Votes with party: 98.0% (656 recorded votes)
Full profile: /officials/W000812
Source: Congress.gov · FEC
Cosponsors (1)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2025-12-02
Source: Congress.gov
Committee Activity
Currently in
- Senate Committee on Banking, Housing, and Urban AffairsReferred To · 2025-12-02
- House Committee on Financial ServicesReported By · 2025-09-08
Previously
- House Committee on Financial ServicesMarkup By · 2025-07-22
- House Committee on Financial ServicesReferred To · 2025-07-16
Plain-English Summary
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.
Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.
Subjects
Finance and Financial Sector
Full bill text is not yet cached locally.
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