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Shame that the requirement to be an accredited investor was disclosed just before the round while previously forms only asked yes/no on this. $670k from just ac
by voytec 3y ago
Shame that the requirement to be an accredited investor was disclosed just before the round while previously forms only asked yes/no on this. $670k from just accredited investors is rather unimpressive.
I believe that it stopped a lot of folks from being able to invest in Kagi, since this issue was brought up in FAQ sent out by Vlad in May.
> Q: Can I still invest if I am not an accredited investor?
> A: Not through this round. If we organize a different vehicle in the future (e.g., crowdfunding), we will let you know.
- throwaway51057 3y agoThat was a bad surprise for me too, but I understand why they did it this way. They were not after millions of dollars, but a (relatively) small amount. I'm assuming accredited investors reduce the paperwork / liability and are a better plan A. As they secured their funding target with that scope, they don't need to action the plan B of non-accredited investors. That's less energy spent on investor relations and more on the product.