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newratings.com  Jun 25  Comment 
LONDON (dpa-AFX) - Retailer Sainsbury(J) Plc. (JSAIY.PK, SBRY.L) Thursday announced changes to positions on the plc Board and Operating Board. John Rogers, Chief Financial Officer, will expand his role to include Business Development, effective...
TechCrunch  Jun 24  Comment 
 Shyp, an app that enables customers to summon a courier and ship an item, has hired Foursquare’s Varun Shetty to run the company’s business development operations. Shetty’s primary focus for now will be building relationships with...
Insurance Journal  Jun 23  Comment 
Willis North America, a unit of Willis Group Holdings plc, the global risk advisory, re/insurance broking, and human capital and benefits firm, appointed Paul Collins as growth leader for Willis’s Metro region, where he will be responsible for...
Insurance Journal  Jun 23  Comment 
Edgewood Partners Insurance Center  has named Vanessa Ruiz Mitilier a senior consultant and producer in the firm’s Southern California employee benefits consulting practice. Mitilier will be based in EPIC’s Irvine, Calif. office. She will be...
Automotive World  Jun 23  Comment 
CEVA Logistics, one of the world’s leading supply chain management companies, has strengthened its senior management team in Iberia with the appointment of Philip Griffiths to the position of Contract Logistics Business Development Director. He...
newratings.com  Jun 19  Comment 
WASHINGTON (dpa-AFX) - Incyte Corp. (INCY) announced that it has created two new units; a U.S. country organization that will lead commercial and medical affairs in the U.S.; and a Global Product Strategy and Business Development & Licensing...
Mondo Visione  Jun 16  Comment 
Chinsay, the global standard for online freight and commodities contract management in physicals, has announced today that Carsten Leth has joined the company as the head of global business development. Leth will be on the management team and...
OilVoice  Jun 16  Comment 
Ceona SURF contractor with deepwater subsea construction capabilities has announced today that the companys executive vice president commercial and business development Mark Preece has been appoi
Forbes  Jun 15  Comment 
Entrepreneurs frequently ask me whether they should hire a lawyer at an early stage in their business’s development or “go it alone,” muddling through a do-it-yourself formation and cobbling together a smattering of contracts and forms they...
Insurance Journal  Jun 12  Comment 
San Diego, Calif.-based ICW Group Insurance Cos. has named Gina Douglas branch manager in Texas. Based in Austin, she will oversee business development, agent outreach and workers’ compensation underwriting in the state. ICW Group began actively...




 
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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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