Private markets · Access
Who is allowed to invest in pre-IPO companies?
Private offerings are restricted by the investor's own country as much as by the company's. These guides summarise the published rules for the three places our readers most often ask about.
Facts checked 7 Oct 2026 · By Dipankar Sarkar · Education only — not an offer
United States
Who can invest in pre-IPO shares and SPVs in the United States?
Private-company shares and SPV interests are almost always sold in unregistered private offerings under Regulation D, which in practice limits buyers to accredited investors.
United Kingdom
Can UK investors buy pre-IPO shares or US SPVs?
In the UK, promoting unlisted shares or an SPV to an individual must be done or approved by an FCA-authorised firm, or fall within a Financial Promotion Order exemption such as the certified high net worth (art.
India
Can resident Indians invest in US pre-IPO companies?
Resident individuals invest abroad through the Liberalised Remittance Scheme (up to USD 250,000 a financial year) and the Overseas Investment Rules 2022.
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