The Nov. 19 edition of the New York Times’ “Dealbook” quoted Ropes & Gray’s New York-based partner Joel Wattenbarger discussing the SEC’s proposed definition of venture capital funds. SEC proposed regulations, announced on Nov. 19, would require the registration of hedge funds and other private investment funds.
“They defined venture capital fund pretty narrowly — about as narrow a view as I think anyone would have expected them to,” Wattenbarger told The New York Times. “The result may be that funds that we would really consider within the sweet spot of what people have historically considered venture capital wouldn’t qualify.”
“People waiting to hear the definition, thinking they might be able to squeeze into the venture capital definition, are not going to take any comfort from the definition,” he added.
“Dealbook” is edited by Andrew Ross Sorkin.
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