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Spotlight: SEC OKs Venture Investment by Credit Card

June 04, 1998

Technology Funding Inc., a Silicon Valley-based venture capital firm, said it received permission from the Securities and Exchange Commission to accept credit card payments for the sale of its newest fund. This marks the first time investors can buy shares of a fund with plastic. Although the fund, Technology Funding Venture Capital Fund VI, is a venture fund rather than a mutual fund, it is governed by many of the same rules. The SEC's approval is a one-time exemption.

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