Two very helpful rules in the INVEST ACT takes the 250 cap for small venture funds to 500 LPs.... and you can take a free test at the SEC to become accredited. Wow! This means more folks can participate AND the little guys and gals don't get shut out by the big fish in new funds. Practically, this rule means we will see 1,000x more tiny LPs/angels (think $1,000 or $20,000 ticket sizes) and many more TINY venture funds ($3M to $10M)... which is what the market REALLY needs. Imagine 500 Uber drivers, citizens of Detroit or HR managers, starting $1-10m funds. Those populations could invest where they have an advantage or passsion, i.e. ridesharing startups, startups in Detroit or HR related startups. Quote: The INVEST Act also updates the definition of a “qualifying venture capital fund,” raising the permissible size of such funds from $10 million to $50 million and lifting the cap on investors from 250 to 500. This change reflects the scale of modern venture capital while preserving the core guardrails that distinguish these funds from larger pooled vehicles. By expanding the ability of regional and firsttime managers to raise capital, this provision helps ensure that entrepreneurs outside Silicon Valley and New York can connect with the financing they need.(@jason)