Non-Accredited Investor

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An investor with a net worth of less than $1 million who has had an annual income of less than $200,000 ($300,000 with a spouse) in each of the past two years. Under Regulation D, no more than 35 non-accredited investors are allowed to participate in the private placement of a security, company, or hedge fund. As a result, many investment vehicles target high net-worth individuals.

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