To be an SEC accredited investor, you have to be making 200-300k in the last two years, or a net worth of > $1M. I initially wrote that as "angel", but then ch

To be an SEC accredited investor, you have to be making 200-300k in the last two years, or a net worth of > $1M. I initially wrote that as "angel", but then changed it to "true angel" to distinguish those who might make a small investment once or twice to friends or family from those who can handle their investments a little more seriously. Or, put another way: as a founder, I feel less bad taking their money because it's not a major component of their net worth (at that point they shouldn't be investing in the first place, but yeah).