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Congress·Passed House·3 months ago

New rules give venture funds more ways to invest in startups

Also known as: Developing and Empowering our Aspiring Leaders Act of 2025

Legislative Progress

✓ Filed
✓ Review
✓ House
Senate
President

Key Points

  • The Securities and Exchange Commission must update these investment rules within 6 months
  • Venture funds could count buying startup stock from early owners, not just new shares from the company
  • Up to 49% of a fund’s money could go to other venture funds or secondhand shares
  • At least 51% must still go straight into startups by buying new shares from the company
  • This could send more money to startups and help workers sell stock, but may also mean less public reporting by these funds
EconomySmall BusinessTechnology

Milestones

4 milestones13 actions
Dec 2, 2025Senate

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Dec 1, 2025House

Motion to reconsider laid on the table Agreed to without objection.

Dec 1, 2025House

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4949)

Dec 1, 2025

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4949)

Dec 1, 2025House

DEBATE - The House proceeded with forty minutes of debate on H.R. 4429.

Source Information

Document Type

Congressional Bill

Official Title

Developing and Empowering our Aspiring Leaders Act of 2025

Bill NumberHR 4429
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsor

Cosponsors

(1)
D: 1

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