Biomass Magazine  Dec 10  Comment 
Stora Enso will concentrate its new biomaterials business development in an innovation center that will be located in the Stockholm area in Sweden. The center is expected to open during the second quarter of 2015.
Insurance Journal  Dec 10  Comment 
Independent insurance broker network Brokerslink has appointed Corey Gooch as its first director of business development. As part of the executive team, he will help drive Brokerslink’s growth by working with its broker members to introduce new...
Insurance Journal  Dec 9  Comment 
JLT Re (North America) has appointed Judy Benson as senior vice president. She will be part of the Southeast region led by David Johnson and JJ Johnson. JLT Re said she will focus on account management and new business development. … The...
Automotive World  Nov 25  Comment 
Bill Burnham, Business Development Manager, Powertrain, DSM, has been confirmed as a panellist in the discussion on Powertrain Innovation Automotive Megatrends USA 2015, which takes place on 17 March 2015. Burnham started his career at speciality...
Mondo Visione  Nov 19  Comment 
The Board of Governors of Thailand Futures Exchange pcl (TFEX), under the Stock Exchange of Thailand (SET) group, has appointed Rinjai Chakornpipat as Managing Director of TFEX, effective November 20, 2014. Rinjai has wide-ranging and in-depth...
Forbes  Nov 17  Comment 
An exclusive interview with Steve Semenzato, co-founder and VP of business development at Cortexica about where visual search is headed, the role deep learning and data will play in its development, and the fact we’re five years out from this...
Forbes  Nov 13  Comment 
One exception is Guillaume Estegassy, a Director of World Wide Internet of Things Business Development at Microsoft Corporation, who said, “I have become so used to presenters who have terribly complicated slides and who do such a poor job of...
The Hindu Business Line  Nov 13  Comment 
David Huang is Senior Manager, Technology and Business Development, Connected Services at Ford Asia-Pacific. He has done a whole lot of engineering worked with around applications like Sync and...
Insurance Journal  Nov 11  Comment 
Hub International Northeast, part of Hub International Limited, has hired Stephan T. Clegg as vice president of Private Client Services, responsible for business development and sales. He will be based out of the firm’s Summit, New Jersey...  Nov 10  Comment 
MediClin AG: Earnings target für the 2014 FY is lifted due to a better business development compared to the fourth quarter 2013 DGAP-News: MediClin AG / Key word(s): 9-month figures MediClin AG: Earnings target für the 2014 FY is lifted due 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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