WASHINGTON, D.C.- Last night, the House unanimously passed Rep. Trey Hollingsworth’s (IN-09) Developing and Encouraging our Aspiring Leaders (DEAL) Act. This bill encourages more investment from venture capital firms enabling small businesses and startups to have more access to the capital they need to grow their ideas.
“Now more than ever, we need to foster the growth of small businesses and local startups,” said Rep. Hollingsworth. “This bill will help Hoosier businesses access the critical capital needed to grow, invest in our communities, and create more jobs. I encourage the Senate to act and pass the companion bill quickly.”
The DEAL Act requires the Securities and Exchange Commission (SEC) to expand the definition of a qualifying investment to include broader equity securities. The inclusion of broader equity securities as part of a qualifying investment was passed in the 115th Congress on a bipartisan basis, in JOBS and Investor Confidence Act of 2018. The DEAL Act would allow venture capital funds to provide necessary growth capital as those companies go public without having to register as a registered investment adviser.
Senator Mike Rounds (R-SD) introduced the Senate version of the DEAL Act in the 117th Congress.
