NJ A5795

Increases the maximum initial qualified investment from an unspecified prior amount to $10,000,000, or up to $12,500,000 for businesses utilizing intellectual property from New Jersey universities, university spin-offs, or certified minority- or women-owned businesses

Allows qualified investments to occur at higher valuations when the venture firm has prior investments in a qualified business, provided valuation is established by an independent third party or through third-party investor participation

Requires qualified venture firms to create a special purpose vehicle for each qualified investment and indicate the amount of follow-on investment the authority should reserve

Mandates that venture firms report audited financials of both the qualified venture firm and special purpose vehicle, including consolidated performance summaries, with individual business information kept confidential

Authorizes the authority's chief executive officer to adopt emergency regulations effective for up to 365 days to implement the amendments