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TechCrunch  Jan 11  Comment 
 Over the past five years, law firms in Silicon Valley, New York and Boston have put online – for free – the documents that startups need to execute basic legal transactions. But as big law firms mimic their small clients’ “freemium”...
Insurance Journal  Jan 9  Comment 
Cook & Company Insurance Services Inc., an insurance and risk management services firm in Marshfield, Massachusetts, has promoted Sue Shillue to president. She succeeds Peter A. Cook who was named managing director of business development at Cook...
Agrimoney.com  Jan 8  Comment 
A well-known plc is seeking a head of global marketing and business development, who will receive an executive level package with equity potential
Automotive World  Jan 7  Comment 
Dan Mender, Vice President Business Development, Green Hills Software has been confirmed as a speaker in the Connected Car track at Automotive Megatrends USA 2015, which takes place on 17 March 2015. The post Dan Mender, Vice President Business...
Insurance Journal  Jan 6  Comment 
Insurance wholesaler, Delta General Agency Corp., has hired Lesa Blaser as the high net worth business development leader in its North Texas office. Blaser will expand Delta’s high net worth presence in North Texas. Her knowledge of the high net...
Forbes  Jan 5  Comment 
Forbes Media's Conferences team seeks a Conferences Coordinator to support conference business development and sales initiatives as well as event logistics.
Jutia Group  Jan 5  Comment 
[PR Newswire] - INDIANAPOLIS, Jan. 5, 2015 /PRNewswire/ -- Eli Lilly and Company (LLY) today announced the promotion of Darren J. Carroll to Senior Vice President of Corporate Business Development effective Jan. 1, 2015. He has been the Vice...
Insurance Journal  Jan 2  Comment 
Clark Insurance, an employee-owned independent insurance agency with offices in Maine and New Hampshire, has promoted Tony Payne to vice president of business development. Payne has been serving as director of business development since joining...
USAToday.com  Dec 24  Comment 
A business development expert can provide you with a number of important things your business needs.
Wall Street Journal  Dec 22  Comment 
Fears that Greece’s high-stakes parliamentary vote for a new president could herald a return to economic turmoil have stalled business development and foreign investment, business executives and investors say.




 
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A business development company (BDC) is a company that makes private equity investments, and is essentially a private equity firm that goes public and sells shares of itself. It is funded with the purpose of lending and investing in private companies. A business development company is similar to a Venture Capital (VC) firm, but a key difference is that BDCs allow retail investors to invest, via the BDC, in startup companies. Many BDCs are listed on the NYSE, AMEX, and Nasdaq (see the list below).

American BDCs are required to invest at least 70% of assets in private U.S. companies. Most BDCs have regulated investment company status, which means they must distribute at least 90% of their taxable income to shareholders each year. This also means a BDC can't put more than 5% of assets in any single investment or buy more than 10% of another company's voting stock, or put more than 25% of assets into a business they control or into businesses in the same industry.

The establishment of business development companies allowed retail investors to participate in and benefit from investing in private businesses by allowing them to buy shares of closed end funds that invested in these businesses. The term business development company was defined in the Investment Company Act of 1940, section 2(a)(48). To qualify as a BDC, a company must comply with Section 54 of this same act. The Investment Company Act set standards by which investment companies should be regulated, including mutual funds.

Examples of publicly-traded business development companies include:

External Resources

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