Complex sentence: A Business Development Company (BDC) is a form of publicly traded private equity in the United States created by Congress in 1980 under amendments to the Investment Company Act of 1940.
Split into simpler sentences: A Business Development Company (BDC) is a form of publicly traded private equity security in the United States created by statute in 1980. Some publicly traded private equity firms are registered as BDCs under the Investment Company Act of 1940.