The National Venture Capital Association, which represents more than 400 venture firms, wants some wiggle room in complying with the venture capital exemption to registration requirements imposed on private equity and hedge funds by the Dodd-Frank overhaul of financial markets.
In a comment letter submitted Thursday to the Securities and Exchange Commission, the NVCA asks that venture firms be allowed to use up to 15% of a fund’s committed capital to pursue activities outside the agency’s proposed definition of venture capital while still qualifying for the registration exemption.
To read the full, original article click on this link: Venture Industry Seeks More Flexibility In SEC Registration Rules - Venture Capital Dispatch - WSJ
Author: Russell Garland
