The Top Five Takeaways-
1) Among other provisions, the bill does away with the ban on so-called “general solicitation” — the idea that a company can’t advertise itself to investors. If it is signed into law, start-ups would be able to announce their fundraising intentions to venture capitalists.
2) Allows start-ups to pursue crowd- funding. They can raise up to $1million with a business plan and $2 million if they provide audited financial statements. Investors with incomes or net worth below $100,000 would be restricted to putting up just 5% of their annual income, up to $2,000. The cap for wealthier investors is 10% of their income or net worth, to a maximum of $100,000
3) The JOBS Act includes other measures that would loosen regulatory requirements for smaller companies seeking to go public, creating a new classification called “emerging growth companies.” For companies with less than $1 billion in revenue, the number of audited financial statements required for an IPO would be reduced, and those companies would be exempted from having to hire an external auditor prior to the offering.
4) Furthermore, it provides for “mini” public offerings, under which companies raising $50 million or less would not be held to some of the financial disclosure requirements that most publicly held companies are subject to.
5) The law also raises the limit on the number of shareholders a company can have before it must file financial statements with the SEC. That will enable profitable private companies such as Facebook to stay private longer if they choose. 500 to 2000 investors,
The Art of Venture Capital 
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