To implement the requirements of section 504 of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 (“EGRRCPA”), the Securities and Exchange Commission (“Commission”) is proposing a rule that would adjust for inflation the dollar threshold used in defining a “qualifying venture capital fund” under section 3(c)(1) of the Investment Company Act of 1940 (“Investment Company Act” or “Act”). The proposed rule also would allow the Commission to adjust for inflation this threshold amount by order every five years and specify how those adjustments would be determined.