novus complete stage 1, page-81

A person is only eligible to be the subject of a sophisticated investor certificate if they have: -

a gross income of $250,000 or more per annum in each of the previous two years

OR

net assets of at least $2.5 million.

The rationale is that people meeting one of these criteria are more likely to be able to evaluate offers of securities and some financial products managed (such as interests in investment schemes) without needing the protections of a regulated disclosure document.

Do the amounts vary by the cap size you are investing in.....i don't know