Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Dec 15, 2025

This bill prohibits the Securities and Exchange Commission from limiting the sale or listing of securities issued by closed-end funds that invest in private investment funds. The prohibition also applies to closed-end companies that are treated as business development companies. A closed-end fund is defined as a portfolio of pooled assets with a limited number of shares traded on an exchange.

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Increasing Investor Opportunities Act This bill allows a closed-end fund—a portfolio of pooled assets with a limited number of shares traded on an exchange—to increase its investment in private investment funds. Specifically, the Securities and Exchange Commission is prohibited from limiting the sale or listing of securities of a closed-end fund that invests in private investment funds. This bill also apples to a closed-end company treated as a business development company.