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You're right, but the sophisticated investor requirements are very loose.

http://www.seedrs.com/faq/items/65_what_are_the_eligibility_...

http://www.legislation.gov.uk/uksi/2005/1529/schedule/5/made

Interesting to see that this does not include a similar declaration for someone with expertise in the field that the investment opportunity is in. Still I guess it could be argued that even if the business is successful you could be hard done by if you don't understand the financial instruments involved as well as you should.

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