Who can participate in Karman Line funds and vehicles, and how.

Why this matters

Karman Line sponsors investment vehicles that are available only to accredited investors. We work this way because our funds are private offerings, not registered public securities, and because the regulatory framework that lets us run them efficiently is built around accreditation.

Who is an accredited investor

Under Rule 501(a) of Regulation D under the Securities Act of 1933, an individual generally qualifies as an accredited investor by meeting one or more of these tests:

• Income: earned income exceeding $200,000 in each of the two most recent years, or $300,000 jointly with a spouse or spousal equivalent, with a reasonable expectation of the same in the current year.
• Net worth: individual or joint net worth exceeding $1 million, excluding the value of a primary residence.
• Professional qualification: holding in good standing certain SEC-recognized professional certifications, designations, or credentials (Series 7, 65, or 82 license holders).
• Knowledgeable employee: certain knowledgeable employees of a private fund.

Entities qualify under different tests, including a $5 million asset threshold for most entity types and an "all-equity-owners-are-accredited" path for entities owned by accredited individuals.

This summary is not legal advice and is not exhaustive. The full definition is in the regulation. We verify accreditation independently before any investor is admitted to a Karman Line vehicle.

How we verify

For investors in Karman Line vehicles, accreditation is verified using one of the methods recognized under Rule 506(c). That typically means either a third-party verification service, or a written confirmation from a registered broker-dealer, registered investment adviser, licensed attorney, or certified public accountant attesting to the investor's accredited status. We will tell you which path applies before we ask for documentation.

Risk

Investment in private funds and real assets involves substantial risk, including risk of loss of principal. Private fund interests are illiquid and there is no public market for them. Past performance is not indicative of future results. You should consult your own legal, tax, and financial advisors before making any investment decision.

Forward-looking statements

Materials on our sites include forward-looking statements about target returns, fund structure, pipeline, partnerships, and the trajectory of the space economy. These statements reflect our current expectations and are subject to risks and uncertainties. Actual results may differ materially. We do not undertake to update any forward-looking statement except as required by law.

Not advice

Nothing on our sites is legal, tax, accounting, or investment advice. We are not your fiduciary unless and until we have a written agreement to that effect.

Contact

For more information about Karman Line vehicles, write to investors@karmanline.world.