; and (3) in paragraph (4), as so redesignated, by striking paragraph (3) and inserting paragraph (5) . II Small Business Investor Capital Access 2201. Short title This title may be cited as the Small Business Investor Capital Access Act . 2202. Inflation adjustment for the exemption threshold for certain investment advisers of private funds Section 203(m) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–3(m) ) is amended by adding at the end the following: (5) Inflation adjustment The Commission shall adjust the dollar amount described under paragraph (1)— (A) upon enactment of this paragraph, to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor between the date of enactment of the Private Fund Investment Advisers Registration Act of 2010 and the date of enactment of this paragraph; and (B) annually thereafter, to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor. . III Improving Capital Allocation for Newcomers 2301. Short title This title may be cited as the Improving Capital Allocation for Newcomers Act of 2023 . 2302. Qualifying venture capital funds Section 3(c)(1) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–3(c)(1) ) is amended— (1) in the matter preceding subparagraph (A), by striking 250 persons and inserting 600 persons ; and (2) in subparagraph (C)(i), by striking $10,000,000 and inserting $150,000,000 . IV Small Entrepreneurs’ Empowerment and Development 2401. Short title This title may be cited as the Small Entrepreneurs’ Empowerment and Development Act of 2023 or the SEED Act of 2023 . 2402. Micro-offering exemption (a) In general Section 4 of the Securities Act of 1933 ( 15 U.S.C. 77d ) is amended— (1) in subsection (a), by adding at the end the following: (8) transactions meeting the requirements of subsection (f).