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The Straits Times  10 hrs ago  Comment 
August 11, 2014 1:11 AM CHUA TIONG WEI: Resigned as executive director of sales and business development with effect from last Tuesday. Mr Chua, 43, stepped down to pursue personal interests.
SeekingAlpha  Aug 8  Comment 
By Ken Copley: The Strategy The following table reflects the current, portfolio management strategy at Microsoft (NASDAQ:MSFT). MSFT Portfolio Management - Investment Capital ($...
newratings.com  Aug 7  Comment 
DATA MODUL AG: Positive business development in 1st half 2014 DGAP-News: DATA MODUL AG / Key word(s): Half Year Results DATA MODUL AG: Positive business development in 1st half 2014 07.08.2014 /...
newratings.com  Aug 6  Comment 
First Sensor AG: First Sensor presents provisional figures for first half of 2014 - Successful business development continues First Sensor AG / Key word(s): Preliminary Results 06.08.2014 11:48 Dissemination of an Ad hoc announcement...
Insurance Journal  Aug 5  Comment 
Lockton has two employee benefits experts to its Chicago operation. Joining Lockton in vice president, producer roles are David Cooke and Mark Haye. Both will be responsible for business development and client strategy at the privately held,...
Cloud Computing  Aug 4  Comment 
ChannelNet, a leader in digital customer acquisition, retention and conquest marketing, appointed Jaime Lyle as its new vice president of business development and Amir Rizkalla as the company’s senior director of account...
USDA  Jul 31  Comment 
WASHINGTON, July 31, 2014 – Agriculture Secretary Tom Vilsack today announced that USDA has selected 10 rural microenterprises to receive grants totaling $300,000 that will support job growth and business development in several rural communities.
Benzinga  Jul 30  Comment 
Editor Note: This is the second of a two part series. Read Frank Mortari's comments on M&A possibilities. Bio-Techne (NASDAQ: TECH) has made two major acquisitions since June, spending $60 million to acquire Novus Biologicals and $300 million...
Mondo Visione  Jul 30  Comment 
Cashfac Technologies, a global leader in Cash Management solutions, today announced that it has appointed Richard Cummings as Deputy CEO and Alastair McGill as Managing Director of Global Business. Based in London, Richard and Alastair will report...




 
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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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