Subject: File No. S7-2024-01
From: Joel Wresh

Venture capital funds are not immune from the effects of inflation, and failing to raise the ceiling for assets is akin to decreasing the limits. My understanding of the purpose of the designation of a qualifying venture capital fund is to limit the resources a fund must commit to registering with the SEC and complying with the regulations of such registration. Because a qualifying venture capital fund is relatively small, it benefits the fund, beneficial owners, and companies receiving investment funds to reduce the amount of time and money spent on administrative matters. The ability to raise the limit of the aggregate capital contributions and uncalled committed capital is a helpful clause that will allow for simple recalculations going forward without the need for going through a burdensome rule-making process. As seen in recent years, the ability to recalculate eligibility limits for various programs and regulations is important to protect the intent of the original limits.