H.R. 4429: Developing and Empowering our Aspiring Leaders Act of 2025
A House bill (H.R.) in the 119th U.S. Congress.
Overview
| Congress | 119th U.S. Congress (2025–2026) |
|---|---|
| Type | House bill (H.R.) |
| Originating chamber | House |
| Introduced | 2025-07-16 |
| Sponsor | Rep. Wagner, Ann [R-MO-2] |
| Policy area | Finance and Financial Sector |
| Cosponsors | 1 |
| Latest action | 2025-12-02 — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Last updated | 2026-07-18 |
Summary
Official summary (Introduced in House, 2025-07-16):
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.
Cosponsors (1)
| Name | Party / state |
|---|---|
| Sean Casten | D IL 2025-07-21 |
Full text & official record
The official bill text, section-by-section summary, amendments, committee reports, and the complete legislative timeline for H.R. 4429 are published by Congress on congress.gov.
View H.R. 4429 on congress.gov →
Frequently asked questions
What is H.R. 4429?
H.R. 4429 is a House bill (H.R.) introduced in the 119th U.S. Congress, originating in the House. Official title: Developing and Empowering our Aspiring Leaders Act of 2025.
Where can I read the full bill text?
The full text, cosponsors, amendments, and legislative status for H.R. 4429 are available on congress.gov.
Bill data: congress.gov API (official congressional records).