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Bill119th CongressFiled Jul 16, 2025Finance and Financial Sector
H.R. 4429

Developing and Empowering our Aspiring Leaders Act of 2025

Bill journey · stage 2 of 5

Under committee review

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Comm.
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Law

What it doesSummary introduced in house (Jul 16, 2025)

Developing and Empowering our Aspiring Leaders Act of 2025

This bill directs the Securities and Exchange Commission to revise venture capital investment regulations to allow additional types of investments to be considered as qualifying investments. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Under current regulations, non-qualifying investments—which include secondary transactions and investments in other venture capital funds—may comprise up to 20% of a venture capital fund.

The bill allows investments acquired through secondary transactions or investments in other venture capital funds to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the fund's investments must predominately (1) be acquired directly, or (2) be investments in other venture capital funds.

What just happenedDec 2, 2025

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

Who’s behind it

Rep. Wagner, Ann [R-MO-2](R-MO)Sponsor
1 cosponsor1 D
Read on Congress.gov
1cosponsors2committees15actions5subjects
  1. Dec 2, 2025IntroReferral

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

    Banking, Housing, and Urban Affairs Committee
  2. Dec 1, 2025FloorH38310

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

  3. Dec 1, 2025FloorH37300

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

  4. Dec 1, 2025Floor8000

    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)

  5. Dec 1, 2025FloorH8D000

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

  6. Dec 1, 2025FloorH30000

    Considered under suspension of the rules. (consideration: CR H4948-4950)

  7. Dec 1, 2025FloorH30300

    Mr. Davidson moved to suspend the rules and pass the bill, as amended.

  8. Sep 8, 2025CalendarsH12410

    Placed on the Union Calendar, Calendar No. 203.

  9. Sep 8, 2025CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-246.

    Financial Services Committee
  10. Sep 8, 2025Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-246.

    Financial Services Committee
  11. Jul 22, 2025CommitteeH19000

    Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 2.

    Financial Services Committee
  12. Jul 22, 2025CommitteeH15001

    Committee Consideration and Mark-up Session Held

    Financial Services Committee
  13. Jul 16, 2025IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  14. Jul 16, 2025IntroReferralIntro-H

    Introduced in House

  15. Jul 16, 2025IntroReferral1000

    Introduced in House