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What is an Accredited Investor?

An “Accredited Investor” means a person who comes within any of the following categories:

• (a) A natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase, excluding the value of the primary residence of such person;
• (b) A natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year;
• (c) A corporation, partnership, or charitable organization with assets exceeding $5 million;
• (d) A bank, insurance company, registered investment company, business development company, or small business investment company;
• (e) An employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;
• (f) A director, executive officer, or general partner of the company selling the securities;
• (g) A business in which all the equity owners are accredited investors; or
• (h) A trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes.
• (i) The complete definition of “Accredited Investor” is found in Rule 501 of Regulation D under the Securities Act of 1933.