RECENT NEWS
WA Business News  Oct 23  Comment 
Regional Chambers of Commerce and Industry chief executive Kitty Prodonovich has been appointed chair of the Small Business Development Corporation.
Forbes  Oct 22  Comment 
The Internet of Things is quickly becoming the next frontier in technology and business development.
Reuters  Oct 21  Comment 
Investment adviser Evanston Capital Management hired Lance Donenberg as the principal and head of strategic business development.
SeekingAlpha  Oct 16  Comment 
By RH Analytics: Introduction This is the fifth of RH Analytics' multi-part short thesis on the HCI Group (NYSE:HCI). In it, we continue our discussion on why we believe the company's business model is deeply flawed and the stock...
SeekingAlpha  Oct 15  Comment 
By Ben Kramer-Miller: I recently had a chance to speak, once again, with three members of Ucore Rare Metals' (OTCQX:UURAF) management team: CEO Jim McKenzie, COO Ken Collison, and VP of Business Development Mark MacDonald. Despite the relatively...
Forbes  Oct 15  Comment 
Often, it’s effective for job seekers to gain an understanding of sales careers from experts in the field. Due to her keen insight regarding business development jobs, I asked Julie Sponagel, a Global Director of Enterprise Solutions at Fred...
Benzinga  Oct 14  Comment 
Owain McNeill recently joined Quintillion Limited (Quintillion), a European-based affiliate of U.S. Bancorp Fund Services, LLC (USBFS), as senior vice president of business development. McNeill, based in London, will focus on the continued growth...
Mondo Visione  Oct 13  Comment 
The Nasdaq Educational Foundation today announced the establishment of the Nasdaq Entrepreneurial Center, located at 505 Howard Street in San Francisco's South Financial District. The Nasdaq Entrepreneurial Center – slated to open in 2015 –...
Automotive World  Oct 8  Comment 
Since the announcement that the successful DS product line was to become a stand-alone brand, DS has decided to use its success to go global, targeting over 200 of the world's wealthiest cities The post Interview: Eric Apode, Vice President,...
Insurance Journal  Oct 7  Comment 
Insurance broker Willis North America has appointed Charles “Chip” Storm as vice president, Property & Casualty, with its Willis of Tampa operation. In this role, Storm will be responsible for business development and client retention. He will...




 
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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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