Investors
High-net-worth individual
Also known as HNI
A wealthy person who invests their own money, often through a private fund.
In the United States most HNIs must qualify as accredited investors to join a private fund, and some funds require the higher qualified purchaser standard. Their cheques are smaller than an institution's but they can be many and can move quickly.
Why it matters when you raise
HNIs are a large share of the investors in first-time funds, so verifying status early avoids delays at closing.