This was legal even before the JOBS act. A registered investment company is an accredited investor, and is allowed to sell shares to individual investors. Sever

This was legal even before the JOBS act. A registered investment company is an accredited investor, and is allowed to sell shares to individual investors. Several companies have tried the business model, none (to my knowledge) with great success. See https://dealbook.nytimes.com/2012/08/29/gsv-capital-placing-bets-on-start-ups-falters/ https://dealbook.nytimes.com/2012/08/29/gsv-capital-placing-...