Proskauer partner, John Mahon discusses Business Development Companies (BDCs) with VC Law Host Gary J. Ross. John began his career working at the SEC, and since then has devoted his practice to BDCs and registered funds. John explains how BDCs are a hybrid between a standard investment fund and a traditional finance company. Among the topics covered are congressional requirements for BDCs since their creation in 1980; the growth from four BDCs in the 1980s to a burst of them over the past twenty years; fee structures for BDCs; and their prominence in the venture lending space.