Hedge Funds

Venture capital group calls for comment period extension


The National Venture Capital Association, a group of venture capital funds, has asked the Securities and Exchange Commission to extend the deadline for comments regarding the SEC's proposed rule requiring hedge funds to register as investment advisers.

The NVCA is echoing the Managed Funds Association, which submitted a letter making the same request on the grounds that the current comment period, ending September 15, falls during a time of year when many of its members are on vacation or traveling.

Despite the fact that the proposed rule contains a provision that would not require funds with lock-ups of more