This article is the tenth part of a series analyzing the Securities and Exchange Commission's new definition of a venture capital fund. This part of the series focuses on how (if at all) the SEC's new definition changes things for existing venture capital funds. The article examines the grandfathering requirements the SEC wrote into the rule, highlights some relevant distinctions about how the funds raised capital, and compares the grandfathering requirements to the elements a new fund must meet to be a venture capital fund under the SEC's new definition.
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Deciphering the SEC’s New Definition of a “Venture Capital Fund”: Part 10 – What about existing funds?