This is interesting. Curious what others think about this.
Philosophically: aligned. So long as someone can understand what they’re buying and assess it, I’m for it. Will it (meaningfully) change the VC asset class? My hunch is no. A small % of accredited / qualified purchasers today are interested in VC (risk, illiquidity, etc.); same will be true of today’s non-accredited / tomorrow’s accredited investors, only with a 0 or two knocked off the end on check sizes. I also don’t see a fund manager changing their minimum commit to $1K to accommodate smaller check writers. But: philosophically aligned! Too cynical?
Founder and GP at Serac Ventures
5dThe first thought that came to mind was will a person who already classifies as an accredited investor (based on income/net worth) be required to take this exam?