HRS §206M-78
Where the development corporation can invest its money
This section says the development corporation may put money into certain investment groups, like small business investment companies or venture capital funds. It lists the types of groups allowed. It does not set any rules about how much or when to invest.
businesses
The statute, as written — Venture capital investments
Subject to this subpart, the development corporation may invest in: (1) A certified development company under sections 501 to 503 of the Small Business Investment Act of 1958 (15 U.S.C. 695 to 697) and the regulations adopted under those sections; (2) A small business investment company under the Small Business Investment Act (15 U.S.C. 631 to 634, 636 to 649) and the regulations adopted under those sections; (3) A minority enterprise small business investment corporation or equivalent venture capital corporation; (4) A similar entity that may leverage its capital under a federal program; or (5) A venture capital fund or partnership.
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