Independence Investment Fund Act

Key Points

• The bill creates a new government investment fund housed in the Treasury Department, focused on putting money into U.S. companies building critical and emerging technologies like biotechnology. The goal is to boost national security and keep the U.S. ahead of foreign competitors.
• The fund would make equity investments averaging between $1 million and $10 million in early- to mid-stage U.S. tech companies. It is designed to eventually sustain itself through investment returns, acting more like a venture capital firm than a traditional grant program.
• Congress would authorize about $975.5 million to launch the fund, with $300 million reserved specifically for biotechnology investments. An additional $500 million could be authorized during 2035-2040 if the biotech investment balance drops below $80 million.
• An independent outside organization would manage the fund's day-to-day investments, selected through an open competition. The Treasury Secretary, along with advisory and supervisory boards of experts, would set the strategy and approve all investment decisions.
• A key goal is to give American tech companies an alternative to taking money from unfriendly foreign governments or entities. The fund can even block portfolio companies from accepting investment from foreign entities of concern.