LATEST SENATOR HEITKAMP
Heitkamp, Heller Introduce Bipartisan Bill to Promote Investments in Rural Small Businesses & Startups
U.S. Senators Heidi Heitkamp (D-ND) and Dean Heller (R-NV) today introduced bipartisan legislation to help encourage and boost investments in small businesses and startups in North Dakota and across rural America.
Too often, would-be venture capitalists are discouraged from establishing funds in rural areas where smaller-dollar investors are more common, for fear of violating the U.S. Securities and Exchange Commission’s (SEC) limit of 100 accredited investors before a fund is required to spend the time and money registering with the agency. While this may not be an issue for some venture capital funds in high-net worth areas of the country – whose high-dollar investors make this ceiling difficult to reach – it can deter venture capital funds who would otherwise seek investments in states like North Dakota where local small businesses and startups often identify initial seed funding as their primary hurdle to getting off the ground.
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