Private markets could get an influx of capital and investors under legislation approved by the House on Thursday

The package of capital-formation bills, called the INVEST Act, passed the House 302 to 123 . Eighty-seven Democrats joined every Republican in the House to support the bill.

The wide-ranging package of legislation would allow more investors access to private markets. Lawmakers say the measure will help more companies go public and increase capital formation for startups.

Instead of only wealth or income determining who can be an accredited investor, investors could become accredited by taking an exam approved by the Securities and Exchange Commission.

House Financial Services Chairman French Hill, R-Ark., said the bill was needed in part because of the decrease in the

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