H.R. 2790 118th Congress House

Improving Capital Allocation for Newcomers Act of 2021

Official title: To amend the Investment Company Act of 1940 with respect to the definition of qualifying venture capital funds, and for other purposes.

Introduced: April 20, 2023 Introduced by: William R. Timmons IV Republican · South Carolina See on congress.gov

Finance and Financial Sector Banking and financial institutions regulationBusiness investment and capitalBusiness recordsSecurities

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 20, 2023

Referred to the House Committee on Financial Services.

Apr 20, 2023

Introduced in House

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Latest action April 20, 2023

Referred to the House Committee on Financial Services.

Plain-English summary Congressional Research Service

Improving Capital Allocation for Newcomers Act of 2021 [sic]

This bill revises qualification requirements for venture capital funds. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Currently, an investment firm qualifies as a venture capital fund if, among other requirements (1) the fund's securities are owned by 250 persons or less, and (2) the fund has $10 million or less in aggregate capital contributions and uncalled committed capital. The bill increases these amounts to 2000 persons and $150 million, respectively.

Related & companion bills 3

Bill text 1 version

Introduced in House Formatted Text PDF Formatted XML

Source documents hosted by congress.gov.

Committees of jurisdiction 1

Financial Services Committee
House of Representatives

Lobbying activity 3

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

CHAMBER OF COMMERCE OF THE U.S.A.
for CHAMBER OF COMMERCE OF THE U.S.A. · District of Columbia · 4th Quarter 2025 (Oct 1 - Dec 31)
CHAMBER OF COMMERCE OF THE U.S.A.
for CHAMBER OF COMMERCE OF THE U.S.A. · District of Columbia · 3rd Quarter 2025 (July 1 - Sep 30)
CHAMBER OF COMMERCE OF THE U.S.A.
for CHAMBER OF COMMERCE OF THE U.S.A. · District of Columbia · 2nd Quarter 2025 (Apr 1 - June 30)

Bodies those filers lobbied

Agriculture, Dept of (USDA)
3 filings
Army, Dept of (Corps of Engineers)
3 filings
Bureau of Citizenship & Immigration Services (BCIS)
3 filings
Bureau of Industry and Security (BIS)
3 filings
Bureau of Reclamation
3 filings
Centers For Medicare and Medicaid Services (CMS)
3 filings
Commerce, Dept of (DOC)
3 filings
Commodity Futures Trading Commission (CFTC)
3 filings

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

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APA

U.S. Congress. (2026). H.R. 2790: Improving Capital Allocation for Newcomers Act of 2021. 118th Congress. Open America. https://openamerica.io/bill/118-HR-2790/

MLA

"H.R. 2790: Improving Capital Allocation for Newcomers Act of 2021." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-2790/.

Bluebook (legal)

H.R. 2790, 118th Cong. (2026), https://openamerica.io/bill/118-HR-2790/.

Markdown link

[H.R. 2790: Improving Capital Allocation for Newcomers Act of 2021](https://openamerica.io/bill/118-HR-2790/)