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What Are the Limitations and Legal Ramifications for Non-Accredited Investors Raising a Fund in 2022?

When raising a fund what’s the impact of not being an accredited investor? Though I’ve scouted and helped investors- I’ve not invested before but will be soon- 2022. So at this juncture what are the fund limitations and perhaps legal ramifications?
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You don’t need to be accredited to manage a fund.

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