Insurance Journal  Jan 28  Comment 
CNA Financial Corp. has named Chris Middleton business development leader in Los Angeles. Middleton is responsible for leading the execution of distribution management and sales initiatives. Middleton has more than 14 years of experience,...
TechCrunch  Jan 28  Comment 
 You’ve probably heard of the social graph and the interest graph. Now a startup called ShuttleCloud says it’s trying to help developers with “unlocking the email graph.” By email graph, ShuttleCloud means “the contacts and the...
Insurance Journal  Jan 27  Comment 
Insurance Agents & Brokers (IA&B), a tri-state trade organization based in Mechanicsburg, Pennsylvania, hired John Angstadt as business development specialist and Cheryl Shiffer as professional lines account manager for its Sales Center. Angstadt...
Mondo Visione  Jan 27  Comment 
MillenniumIT, a London Stock Exchange Group (LSEG) company, today announces that it has appointed Lorne Chambers as Head of Sales & Marketing. Lorne joins MillenniumIT from Nasdaq where he was most recently Global Head of Sales and Business...
Insurance Journal  Jan 27  Comment 
Ohio-based Oswald Companies appointed Jessica Jung to the position of director of business development, property/casualty. Jung joins Oswald with more than 15 years of experience at Chubb Insurance, most recently serving as vice president and...
Insurance Journal  Jan 27  Comment 
Worldwide Facilities Inc. has named Joe Rowland vice president and broker specializing in casualty products in its Irvine, Calif. office. Rowland will be responsible for new business development in the casualty arena. Rowland has more than 25...
Mondo Visione  Jan 23  Comment 
The Stock Exchange of Thailand (SET) has recently joined hands with Sustainable Business Development Institute (SBDi), to enhance listed companies’ sustainable competitiveness by adhering to good corporate governance, enhancing strategic...
OilVoice  Jan 22  Comment 
FAR Ltd ASX FAR has appointed respected oil industry analyst and advisor Gordon Ramsay as Executive General Manager Business Development. The new role will include responsibility for identifying
TechCrunch  Jan 11  Comment 
 Over the past five years, law firms in Silicon Valley, New York and Boston have put online – for free – the documents that startups need to execute basic legal transactions. But as big law firms mimic their small clients’ “freemium”...
Insurance Journal  Jan 9  Comment 
Cook & Company Insurance Services Inc., an insurance and risk management services firm in Marshfield, Massachusetts, has promoted Sue Shillue to president. She succeeds Peter A. Cook who was named managing director of business development at Cook...


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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