15 U.S. Code § 689c - Selection of New Markets Venture Capital companies
The Administrator shall select companies under paragraph (1) in such a way that promotes investment nationwide.
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”.
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