Business Development Companies (BDCs)
BDCs are a type of closed-end investment fund . They are a way for retail investors to invest money in small and medium-sized private companies and, to a lesser extent, other investments, including public companies. BDCs are complex and have certain unique risks.
Concept at a glance
Definition and explanation
BDCs are a type of closed-end investment fund . They are a way for retail investors to invest money in small and medium-sized private companies and, to a lesser extent, other investments, including public companies. BDCs are complex and have certain unique risks. [1]
BDCs also may be structured in different ways. One way that BDCs can differ is in whether their shares are traded on national securities exchanges. [1]
Source-supported connections
Frequently asked questions
What does Business Development Companies (BDCs) mean in the cited reference?
BDCs are a type of closed-end investment fund . They are a way for retail investors to invest money in small and medium-sized private companies and, to a lesser extent, other investments, including public companies. BDCs are complex and have certain unique risks. [1]
Business Development Companies (BDCs) connection map
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Links retain their source-specific meaning. Award-time affiliations and links to related reading are not claims about current appointments or economic causation.
Sources and review dates
Reviewed 23 October 2026. Historical dates and award-time affiliations retain their original context. A review date is not an event date. Background sources are identified separately from official records.