In order to answer this question, you must know which regulatory exemption you’re raising capital under. If you’re raising under the Rule 506(b) exemption, an unlimited number of accredited investors, and up to 35 non-accredited sophisticated investors. If you’re raising it under Rule 506(c), you can take an unlimited number of accredited investors, but no non-accredited or non-sophisticated investors.
Additionally, depending on your entity type (i.e., limited liability company or corporation), there may be other limitations regarding the number of investors you can have.