Venture Capital Investment Act of 1979

[AI summary unavailable — showing source text] Venture Capital Investment Act of 1979 - Title I: Amendments to the Securities Act of 1933 - Amends the Securities Act of 1933 to include within the private offering exemption from full registration any transaction involving securities bearing a legend stating that such securities may not be sold or transferred except to accredited investors provided all purchasers of such securities are accredited investors or persons the issuer reasonably believes to be accredited investors. Exempts from registration (under the exemption for transactions not involving an issuer, underwriter, or dealer) any resale of a security bearing such a legend if the purchaser is an accredited investor or a person reasonably believed to be an accredited investor. Defines the term "accredited investor" to include: (1) banks, insurance companies, investment companies and their subsidiaries, and any fund, trust or account administered by a bank or insurance company; and (2) persons designated by regulation of the Securities and Exchange Commission on the basis of expertise or net worth. Provides that a venture capital company engaging in the distribution of restricted securities (securities acquired in a transa…