The category of semi-professional investors was introduced in German investment law to offer flexibility and new opportunities, particularly for family offices, foundations, and affluent individuals who don't meet the strict criteria of professional investors.
Key features of semi-professional investors under the KAGB include a minimum commitment of €200,000, a written confirmation of risk awareness, verification of knowledge and experience, explicit waiver of retail investor protections, and a two-week cooling-off period.
This classification provides opportunities for investors who fall outside the professional category but seek to make substantial investments, are aware of associated risks, and desire more investment options, including those not typically available to retail investors.