furtherance of a commercial entity 
based in the United States; or 
‘‘(III) generate not less than 
$1,000,000 in revenue. 
‘‘(B) DEFINITIONS.—In this paragraph: 
‘‘(i) QUALIFIED SUPER ANGEL INVES-
TOR.—The term qualified super angel in-
vestor means an individual who— 
‘‘(I) is an accredited investor (as 
defined in section 230.501(a) of title 
17, Code of Federal Regulations); 
‘‘(II) is a United States citizen; 
and 
‘‘(III) has made at least 2 equity 
investments of not less than $50,000 
in each of the previous 3 years. 
‘‘(ii) 
QUALIFIED
VENTURE
CAPI-
TALIST.—The term ‘qualified venture capi-
talist’ means an entity that— 
‘‘(I) is classified as a ‘venture 
capital operating company’ under sec-
tion 2510.3–101(d) of the Code of 
Federal Regulations; 
‘‘(II) is based in the United 
States; 
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‘‘(III) is comprised of partners, 
the majority of whom are United 
States citizens; 
‘‘(IV) has capital commitments of 
not less than $10,000,000; 
‘‘(V) has been operating for at 
least 2 years; and 
‘‘(VI) has made at least 2 invest-
ments of not less than $500,000 dur-
ing each of the most recent 2 years.’’. 
(b) CONDITIONAL
PERMANENT
RESIDENT
STA-
TUS.—Section 216A of the Immigration and Nationality 
Act (8 U.S.C. 1186b) is amended— 
(1) by striking ‘‘Attorney General’’ each place 
such term appears and inserting ‘‘Secretary of 
Homeland Security’’; 
(2) in subsection (a)— 
(A) in paragraph (1)— 
(i) by striking ‘‘(as defined in sub-
section (f)(1))’’ and inserting ‘‘, sponsored 
entrepreneur’’; and 
(ii) by striking ‘‘(as defined in sub-
section (f)(2)) shall’’ and inserting ‘‘shall 
each’’; and 
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(B) in paragraph (2)(A), by inserting 
‘‘sponsored entrepreneur,’’ after ‘‘alien entre-
preneur,’’; 
(3) in subsection (b), by adding at the end the 
following: 
‘‘(3) SPONSORED ENTREPRENEURS.—The Sec-
retary of Homeland Security shall terminate the per-
manent resident status of a sponsored entrepreneur 
and the alien spouse and children of such entre-
preneur if the Secretary determines, not later than 
3 years after the date on which such permanent resi-
dent status was conferred, that— 
‘‘(A) the qualified venture capitalist or 
qualified super angel investor who sponsored 
the entrepreneur failed to meet the investment 
requirements under section 203(b)(6)(A)(i); or 
‘‘(B) the entrepreneur failed to meet the 
job creation, capital investment, or revenue gen-
eration 
requirements 
under 
section 
203(b)(6)(A)(ii).’’; 
(4) in subsection (c)— 
(A) in paragraph (1)— 
(i) in the matter preceding subpara-
graph (A), by inserting ‘‘sponsored entre-
preneur,’’ after ‘‘alien entrepreneur,’’; and 
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(ii) by striking ‘‘alien entrepreneur 
must’’ each place such term appears and 
inserting ‘‘entrepreneur shall’’; and 
(B) in paragraph (3)— 
(i) in subparagraph (A)(ii), by insert-
ing ‘‘or sponsored entrepreneur’’ after 
‘‘alien entrepreneur’’; and 
(ii) in subparagraph (C), by inserting 
‘‘sponsored entrepreneur,’’ after ‘‘alien en-
trepreneur’’; 
(5) in subsection (d)(1)— 
(A) in the matter preceding subparagraph 
(A), by striking ‘‘alien’’ and inserting ‘‘alien en-
trepreneur or sponsored entrepreneur, as appli-
cable’’; 
(B) in clause (i), by striking ‘‘invested, or 
is actively in the process of investing,’’ and in-
serting ‘‘has invested, is actively in the process 
of investing, or has been sponsored by a quali-
fied super angel investor or qualified venture 
capitalist who has invested,’’; and 
(C) in clause (ii), by inserting ‘‘or 
203(b)(6), as applicable’’ before the period at 
the end; and 
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(6) in subsection (f), by adding at the end the 
following: 
‘‘(4) The term ‘sponsored entrepreneur’ means 
an alien who obtains the status of an alien lawfully 
admitted for permanent residence under section 
203(b)(6).’’. 
Æ 
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