Forbes  May 8  Comment 
Forbes Business Development Council members are senior-level sales and business development executives.
Insurance Journal  May 8  Comment 
Willis Towers Watson has appointed Thomas Zacharopoulos as Midwest leader for its Financial Institutions Industry group. Zacharopoulos will be responsible for business development and delivering the full scope of the company’s distinctive...
Cellular News  May 4  Comment 
andnbsp;BuzzBoard, the largest intelligence engine around small and midsize businesses (SMBs), announced today the hiring of Lem Lloyd to the role of Senior Vice President of Revenue and Business Development. He brings two decades of experience in...
Insurance Journal  Apr 24  Comment 
Matthew Smith has been named a director within the national sales and marketing team in the Houston office of the national insurance brokerage firm, Crystal & Company. He is responsible for business development and expanding client relationships....
The Economic Times  Apr 20  Comment 
The company has asked Kamal Gianchandani, Chief Business Planning & Strategy, to take over Kapoor's responsibilities immediately.
Mondo Visione  Apr 19  Comment 
CloudMargin, the multi-award winning creator of the world's first web-based collateral and margin management solution, announced today the hiring of Laurence Jones and Marc Desanges to further the firm's sales efforts globally. Jones, now...
Insurance Journal  Apr 13  Comment 
Markel Corporation reported that Glenn Mozingo has been named managing director, Global Insurance Business Development, and corporate account executive. In this new role, Mozingo will serve as a key point of contact for brokers throughout the...
Insurance Journal  Apr 12  Comment 
Method Insurance Services in Omaha, Neb., has hired Michael Brunson as business development specialist. In this position, Brunson will focus on building Method’s agency distribution network in key Midwest states, as well as roll out the...
Insurance Journal  Apr 12  Comment 
Keystone Insurers Group, a Northumberland, Penn.-headquartered property and casualty insurance partnership, has named Charles A. “Tripp” Craig III director of business development. Craig has 30 years of experience in the insurance industry,...
Insurance Journal  Apr 11  Comment 
LevelFirst, the wholesale broker and MGA binding facility owned by IIAT Services Co., has appointed Richard Deal as business development manager. Deal is tasked with maximizing the potential of existing relationships as well as growing revenue...


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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