Subject: File No. S7-06-13
From: Gregory D Brown
Affiliation: Administrator, Charlotte Angel Fund

July 13, 2014

Charlotte Angel Fund is comprised of a group of individuals who are committed to providing capital to support entrepreneurial endeavors in North Carolina.

We have been significant contributors towards an entrepreneurial climate in Charlotte which has significantly improved since I moved here in 2009. Specifically, for our city it is the entrepreneurial community which will determine whether the city advances or declines as the large banks (Wells Fargo and Bank of America) see their influence over our city decline in the coming years.

The change to the accredited investor definition as being discussed by the SEC would have a decidedly negative impact upon our group, the entrepreneurial community, and our city as a whole. I cannot imagine why the SEC would even consider reducing the number of individuals who qualify for accredited investor status.

I agree with the comment submitted by Kiran Lingam at SeedInvest on July 8, 2014 that raising the accredited investor thresholds would be disastrous for startups, job creation and the U.S. economy. I believe the SEC should refrain from increasing these thresholds and should also adopt knowledge/experience based standards for an individual to become an accredited investors.