OilVoice  11 hrs ago  Comment 
GulfMark Offshore Inc. NYSEGLF today announced the appointment of Van DeWitt to Senior Vice President of Sales Business Development. GulfMark appointed Van DeWitt to the newly created position
Insurance Journal  Aug 12  Comment 
ACE Group has appointed Ghassan Wazen, currently regional business development manager for ACE in MENA, to the new role of head of North Africa, as it continues to build its management capabilities within Eurasia and Africa, its newest...  Aug 11  Comment 
DATA MODUL Aktiengesellschaft Produktion und Vertrieb von elektronischen Systemen: Good business development in the first half 2015 DGAP-News: DATA MODUL Aktiengesellschaft Produktion und Vertrieb von elektronischen Systemen / Key word(s): Half...  Aug 6  Comment 
RHÖN-KLINIKUM AG: Interim Report for the First Six Months of 2015: RHÖN-KLINIKUM AG Continues its Strong Business Development - Acquisition of Municipal Hospital in Bad Neustadt Demonstrates Strategic Signal for Growth DGAP-News: RHÖN-KLINIKUM...  Aug 3  Comment 
alstria office REIT-AG: First half 2015 / Business development in line with FY guidance DGAP-News: alstria office REIT-AG / Key word(s): Half Year Results alstria office REIT-AG: First half 2015 / Business development in line with FY...  Jul 27  Comment 
WASHINGTON (dpa-AFX) - W. P. Carey Inc. (WPC) and Guggenheim Partners announced that Carey Credit Income Fund (CCIF) will begin to raise capital through its initial feeder fund, Carey Credit Income Fund 2016 T or CCIF 2016 T. CCIF is a...
Insurance Journal  Jul 24  Comment 
Bermuda-based Mt. Logan Re Ltd.* has appointed Chris Caponigro as head of business development. Caponigro brings a diverse background with over 20 years of experience, which includes property, specialty, and structured underwriting, in addition to...
TechCrunch  Jul 23  Comment 
Zenefits, the $4.5 billion human resources software startup, said today it hired Twitter’s (now former) director of global business development Rita Garg. It’s another executive departure for Twitter, with head of communications Gabriel...
Mondo Visione  Jul 15  Comment 
CBOE Holdings, Inc. (NASDAQ: CBOE) today announced it promoted Andy Lowenthal from Vice President to Senior Vice President, Business Development. Lowenthal’s promotion comes as part of a reorganization designed to better leverage the company’s...
Insurance Journal  Jul 14  Comment 
Lloyd’s has announced that it has received approval from the Colombian authorities to open a representative office in Bogotá. The bulletin noted that “under the new Lloyd’s representative office license, Lloyd’s syndicates are able to...


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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