Developing and Empowering our Aspiring Leaders Act of 2022 This bill directs the Securities and Exchange Commission (SEC) to revise venture capital investment regulations if the SEC determines such revisions would facilitate capital formation without compromising investor protection. 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 law, 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, after SEC approval, 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 be acquired directly from a qualifying portfolio company.