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newratings.com  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...
WA Business News  Jul 13  Comment 
A group of Perth venture capitalists is backing plans by a local health scientist for an IPO of a new fitness-based business development, including a body-measuring app that is still on the drawing boards.
Automotive World  Jul 10  Comment 
Alex Serrarens, Manager Business Development, Punch Powertrain, has been confirmed as a speaker in the passenger car powertrain innovation track at Automotive Megatrends India 2015. Serrarens has been with Punch Powertrain since 2013. As Manager...
Mondo Visione  Jul 9  Comment 
Rival Systems (“Rival”), a provider of comprehensive technology solutions for professional derivatives traders, today announced the appointments of Natasha Solis as Director of Sales and Business Development and Sara Goodman as Director...
Automotive World  Jul 8  Comment 
Frederic Painchault, Head of Automotive Marketing, Commercial Coordination & Business Development, ArcelorMittal, has been confirmed as a speaker in both the commercial vehicle and passenger car lightweighting & manufacturing track at Automotive...
Automotive World  Jul 6  Comment 
Havana – Cuba, as a gate to the Gulf of Mexico, always bustles with tourism. Recent news from this island country is that it plans to purchase a fleet of fuel cars to support its tourism business development, and place an order for its first 719...




 
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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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