Sep. 9, 2026
Dear Securities and Exchange Commission, As an active Regulation Crowdfunding investor, I strongly support increasing the Reg CF offering limit from $5 million to $20 million and indexing the limit to inflation going forward. I have invested in many early-stage companies through platforms such as Wefunder, StartEngine, Republic, and other crowdfunding portals, and I have seen promising companies outgrow the current $5 million limit and turn to private offerings that are available only to accredited investors. The current cap can unintentionally create a two-tier system in which everyday investors help fund and support companies at an early stage, but may have less access when those same companies need to raise larger amounts of capital. Increasing the limit to $20 million would allow successful issuers to continue raising from their existing communities, give retail investors greater access to high-growth private companies, and reduce the need for companies to split fundraising across multiple exemptions. Regulation Crowdfunding has matured significantly since the current limit was established. I believe raising the cap would be an important step toward expanding access to private-market investing while giving growing companies a more efficient way to raise meaningful amounts of capital. Thank you for considering my comments and for your work supporting fair and accessible capital markets. Sincerely, Glenn Burney