Independence Investment Fund Act

This bill would create an Independence Investment Fund within the Department of the Treasury to make equity investments in companies developing critical and emerging technologies, with biotechnology as a priority. The Fund would make seed to mid-stage investments, mainly in U.S.-headquartered companies, aiming for an average of $1 million to $10 million per investment. An outside managing entity chosen through open competition would run the Fund, and a five-member supervisory board would vote on all investments. The bill authorizes $975.5 million for fiscal year 2025, including $300 million for biotechnology, plus yearly administrative funding through 2040, and exempts the Secretary's actions under the Act from the Paperwork Reduction Act and the Administrative Procedure Act.

Full text and official record on Congress.gov

Sponsors

• Pete Sessions Republican sponsor
• 6 cosponsors