Answer:
100 accredited investors
Step-by-step explanation:
Private funds classified as 3C1 funds can have a maximum of 100 accredited investors.
An accredited investor is someone that has a net worth of over $1 million, not counting his/her primary residence (house), or must at east have an annual income of more than $200,000, or $300,000 for a married couple.
The main advantage of keeping a fund private is that they are less regulated than public funds. This gives the fund greater freedom when deciding which investments to make.