Basically, all investors must have a role in generating their own profits (more than just voting rights) to be Joint Venture partners. This only works with a small number of investors whom you know very well (3-5). If you get more than that, it’s unworkable. If all are active, they can be unaccredited.
Can I Bring on Investors as Joint Venture Partners? Can They be Non-Accredited?
by Syndication Attorneys | Nov 15, 2019