Marijuana Inc (MAJI)

[e-ore]

Farther down in what you linked:
"As we discussed in the Proposing
Release, the proposed definition of venture capital fund was designed to distinguish venture capital funds from other types of private funds, such as hedge funds and private equity fund"
https://www.sec.gov/rules/final/2011/ia-3222.pdf
So yes, they are different.

He's always called it a hedge fund, never a venture capital fund.

As to licensing:
"Investment advisers and their representatives operating in Washington (with certain exceptions) are required to be licensed with the Securities Division. Persons who provide investment portfolio management for their clients or who hold themselves out to the public as financial planners are among those required to be licensed."

You go here to get licensed
https://www.adviserinfo.sec.gov/

Washington then accepts the federal registrations