Rule 501 includes several individual and entity categories. Individual examples include income above $200,000 ($300,000 with a spouse or spousal equivalent) in each of the prior two years with the same reasonably expected this year, net worth over $1M excluding a primary residence, and certain professional credentials in good standing. Entity tests depend on the category and additional conditions. A form response alone does not establish eligibility.
Rule 506(c) permits general solicitation, provided all purchasers are accredited investors and the issuer takes reasonable steps to verify that status. The Fund is offered under Rule 506(c). An inquiry form or self-certification alone does not complete verification.
Regulation Crowdfunding lets issuers raise up to $5M a year from the public through a registered funding portal, with investment limits for non-accredited investors. Regulation D offerings are private placements, chiefly to accredited investors.
Annually. Positions are held by a registered administrator, and NAV is validated by audit and by arm's-length new-LP subscriptions.