15 U.S. Code § 689c - Selection of New Markets Venture Capital companies
From among companies submitting applications under subsection (b), the Administrator shall, in accordance with this subsection, conditionally approval  companies to participate in the New Markets Venture Capital Program.
Each conditionally approved company shall raise not less than $5,000,000 of private capital or binding capital commitments from one or more investors (other than agencies or departments of the Federal Government) who met criteria established by the Administrator.
 So in original. Probably should be “approve”.