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What is the VC exemption?
The Dodd-Frank Act added the VC exemption for adviser registration in 2011. In 2018, Trump signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act which modified the investment company act 3c1 exemption to increase the number of beneficial owners to 250 if the fund invests in qualifying venture capital companies and is limited to no more than $10 million in aggregate capital contributions.
