The term “developmental venture capital” means capital in the form of equity capital investments in businesses made with a primary objective of fostering economic development in low-income geographic areas. For the purposes of this paragraph, the term “equity capital” has the same meaning given such term in section 683(g)(4) of this title.
15 U.S. Code § 689. Definitions
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In this part, the following definitions apply:
(1) Developmental venture capital
(2) Low-income individualThe term “low-income individual” means an individual whose income (adjusted for family size) does not exceed—
(3) Low-income geographic areathe  term “low-income geographic area” means—
(A) any population census tract (or in the case of an area that is not tracted for population census tracts, the equivalent county division, as defined by the Bureau of the Census of the Department of Commerce for purposes of defining poverty areas), if—
(ii) in the case of a tract—
that is located within a metropolitan area, 50 percent or more of the households in that census tract have an income equal to less than 60 percent of the area median gross income; or
(B) any area located within—
a HUBZone (as defined in section 632(p) of this title and the implementing regulations issued under that section);
an urban empowerment zone or urban enterprise community (as designated by the Secretary of Housing and Urban Development); or
a rural empowerment zone or rural enterprise community (as designated by the Secretary of Agriculture).
(4) New Markets Venture Capital companyThe term “New Markets Venture Capital company” means a company that—
(5) Operational assistance
(6) Participation agreementThe term “participation agreement” means an agreement, between the Administrator and a company granted final approval under section 689c(e) of this title, that—
(7) Specialized small business investment companyThe term “specialized small business investment company” means any small business investment company that—
is organized or chartered under State business or nonprofit corporations statutes, or formed as a limited partnership; and
was licensed under section 681(d) of this title, as in effect before September 30, 1996.
- Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 2001