Legis Daily

A bill to require the Securities and Exchange Commission to revise the definition of a qualifying investment, for purposes of the exemption from registration for venture capital fund advisers under the Investment Advisers Act of 1940, to include an equity security issued by a qualifying portfolio company and to include an investment in another venture capital fund, and for other purposes.

USA119th CongressS-3351| Senate 
| Updated: 12/4/2025
Mike Rounds

Mike Rounds

Republican Senator

South Dakota

Cosponsors (1)
Raphael G. Warnock (Democratic)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Timeline
Dec 4, 2025
Introduced in Senate
Dec 4, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 4, 2025
  • December 4, 2025
    Introduced in Senate


  • December 4, 2025
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • December 4, 2025

A bill to require the Securities and Exchange Commission to revise the definition of a qualifying investment, for purposes of the exemption from registration for venture capital fund advisers under the Investment Advisers Act of 1940, to include an equity security issued by a qualifying portfolio company and to include an investment in another venture capital fund, and for other purposes.

USA119th CongressS-3351| Senate 
| Updated: 12/4/2025
Timeline
Dec 4, 2025
Introduced in Senate
Dec 4, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 4, 2025
  • December 4, 2025
    Introduced in Senate


  • December 4, 2025
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • December 4, 2025
Mike Rounds

Mike Rounds

Republican Senator

South Dakota

Cosponsors (1)
Raphael G. Warnock (Democratic)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted