How to Raise Capital from High-Net-Worth Individuals

Successfully tapping into the vast pool of U.S. high-net-worth individuals (HNWIs) can be transformational for private funds and companies. With roughly 34 percent of global liquid private wealth (implied U.S. HNWI of USD ~90-103 trillion) in investable assets and an estimated $2 trillion of uncalled private-market capital (often called “dry powder”), today’s U.S.-based HNWIs represent one of the largest sources of alternative funding. This guide walks you through each step of the U.S.-specific capital-raising journey.

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The US HNWI Landscape

High-net-worth individuals (HNWIs) in the United States are defined as those with over $1 million in investable assets (excluding primary residence, collectibles, consumables and durables). In 2025, the United States is home to over 6 million such individuals, representing 37 percent of the world’s millionaires. Collectively, these U.S. HNWIs hold roughly 34 percent of global liquid private wealth.

Key US market stats:

Metric	Value
U.S.-based Percentage of Global Liquid Private Wealth	34% (Implied U.S. HNWI USD ~90-103 trillion, based on Total Global Liquid Wealth of USD ~265-305 trillion)
Average Private-Markets Allocation	15%
Estimated US HNWI Dry Powder	over $2 trillion

Uncalled private capital–often called “dry powder”–is the amount limited partners have committed to private-equity funds but that general partners have not yet drawn down. As of early 2025, U.S. private-equity firms are sitting on roughly $2 trillion of uncalled commitments.

These figures highlight the sheer scale of capital available for private funds and growth-stage companies in the U.S.

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Crafting a U.S.-Focused Investment Thesis

Your investment thesis must resonate with U.S. HNWIs’ priorities:

• Pinpoint a domestic market inefficiency or sector gap.
• Quantify target returns, investment horizon, and downside protections in U.S.-dollar terms.
• Emphasize any proprietary U.S. deal flow, home-grown technology or operational edge.

Clarity and U.S. market relevance are non-negotiable.

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Building Trust Through U.S.-Centric Relationship Management

Personal rapport is paramount in the U.S. private-capital ecosystem:

• Host intimate U.S. events: Invite HNWIs to private dinners in the wealthiest cities in the U.S. (see the top ten)
• Secure warm introductions via U.S.-based family offices, private-bank advisors, and wealth-management teams.

Consistent transparency on U.S. deal pipelines and regulatory compliance cements confidence.

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Structuring U.S.-Friendly Offerings

Design deal terms to appeal to American investors’ legal and tax preferences:

• Entry thresholds: tiered minimums aligned with U.S. accreditation standards.

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U.S. Regulatory and Compliance Essentials

Navigating U.S. securities regulations is critical:

• Accredited-investor checks: verify each U.S. participant meets 501(a) criteria via documented net-worth and income tests.
• Regulation D exemptions: choose between Rule 506(b) for pre-existing U.S. relationships or Rule 506(c) for general solicitation to U.S. HNWIs.
• KYC/AML protocols: engage U.S.-based third-party vendors for investor identity verification and ongoing monitoring.
• Tax structuring: select U.S.-friendly vehicles (e.g., Delaware LLCs or specific state structures) to optimize U.S. and state tax treatment.

Strict adherence reduces legal risk and builds investor trust.

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Leveraging U.S. Digital Platforms and Fintech

Digital tools streamline U.S. HNWI fundraising and due diligence:

• Secure U.S.-based portals: host interactive data rooms with real-time U.S. performance metrics.
• Crowdfunding channels: partner with SEC-registered platforms under Reg CF or Reg D 506(c) for broad HNWI outreach.
• E-signature workflows: use U.S.-compliant subscription documents to expedite closings.
• Virtual roadshows: produce high-quality webinars focused on U.S. market opportunities.

Marrying digital efficiency with personalized follow-up maximizes engagement.

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Action Plan for U.S. Capital Raising

To tap into the U.S. HNWI investable assets:

• Refine pitch decks and term sheets with market data and benchmarks.
• Map U.S. referral networks: private banks, family offices and wealth advisors.
• Invest in U.S.-compliant digital subscription and reporting platforms.
• Engage U.S. securities counsel to finalize offering documents and ensure full regulatory compliance.

Follow these steps to turn U.S. HNWI capital into fuel for your fund’s or company’s next growth phase.