SP Discussion, page-133

Yes, the US has the same thing. If you want to read more about it, search for "Accredited Investor". Limits in USD are net worth of at least $1 million (excluding primary residence) or income of at least $200k. There are exemptions for certified professional brokers. The most recent capital raise that Invictus did was available to US investors but only if they were accredited. The reasoning is the same as in Australia: to protect poor/middle class investors from being taken advantage of in deals that can be somewhat complicated and difficult to value. I think the Invictus deals are fairly straightforward (and clearly good value imo) but this isn't always the case.

Personally I don't like the nanny state and am against this rule, but I'm sure it's saved some people over the years.