Yes mostly because of cost and difficulty. The disclosure requirements are much more onerous where not to sophs or professional investors, eg the need for a prospectus.
Supposed to be a protection measure, and sure it does avoid non-sophs for falling for some scammy companies, but it also stops many of the same people from getting a leg up on some great deals, so I don't agree with it (though as a soph it doesn't actually affect me). Getting to sophisticated status was a real battle for me, took several years...but once I got there having access to these deals just made it so much easier.
As for this particular raising, I've had this company on my watchlist for a fair while. Never jumped in, but will try to get some access to the placement.
Cdchi1
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