To be considered a "qualified investor,” at least one of the following criteria must be met:
The investor is an individual or family owned business that owns $5 million or more in investments. If the investor is a family owned business, it cannot be formed solely for the purpose of investing in the fund.
The investor is a trust, sponsored and managed by qualified investor, which wasn't formed for the sole purpose of investing in the fund.
The investor is an individual or other entity that invests at least $25 million, either for their own accounts or on others' behalf. Like the other criteria, entities cannot have been formed for the specific purpose of investing in the fund. Examples in this category would be a professional investment manager or a corporation.
Any entity, if all owners are qualified investors.