SUPPORTING AMERICA’S INNOVATORS.

SEC. 504. SUPPORTING AMERICA’S INNOVATORS. Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a-3(c)(1)) is amended— (1) in the matter preceding subparagraph (A), by inserting “(or, in the case of a qualifying venture capital fund, 250 persons)” after “one hundred persons”; and (2) by adding at the end the following: “(C)(i) The term ‘qualifying venture capital fund’ means a venture capital fund that has not more than $10,000,000 in aggregate capital contributions and uncalled committed capital, with such dollar amount to be indexed for inflation once every 5 years by the Commission, beginning from a measurement made by the Commission on a date selected by the Commission, rounded to the nearest $1,000,000. “(ii) The term ‘venture capital fund’ has the meaning given the term in section 275.203(l)-1 of title 17, Code of Federal Regulations, or any successor regulation.” .