Certainly there's that risk. But saying that only millionaire's are 'smart enough' to invest in private companies seems worse.
It's not designed to prevent 'ordinary' people from sharing in investment profits, it's designed to protect the public purse from having to support millions of people that lost their savings due to unwise investments.
If it's the latter, then there are probably far more creative ways you could help their situation than contributing a few thousand dollars.