By David Wichner | Arizona Daily Star
A new law will make it easier to attract much-needed private investment to Arizona by removing unnecessary state regulation of venture-capital funds, backers say.
The legislation, SB 1005, essentially exempts venture-capital managers from state laws requiring registration of “investment advisers,” which includes professionals who advise individuals such as financial planners and some stockbrokers.
Venture capital is a form of private equity where funds invest mainly in early-stage companies, and it forms the lifeblood of many technology-based emerging growth companies.
