Developing and Empowering our Aspiring Leaders Act of 2025
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 2
- Latest action
- Dec 4, 2025
What it does
The bill would require the Securities and Exchange Commission to revise the definition of a qualifying investment for venture capital fund advisers to include equity securities from qualifying portfolio companies and investments in other venture capital funds. It would also impose a new limit, requiring that venture capital funds hold no more than 49% of their capital in other venture capital funds or secondary acquisitions. These changes aim to update regulatory definitions under the Investment Advisers Act of 1940 to reflect current venture capital practices. The SEC must implement these revisions within 180 days of the bill’s enactment.
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.