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SEBI eases rules for angel funds

The Securities and Exchange Board of India (SEBI) has liberalised norms for angel funds to invest in early-stage entities as part of its attempts to facilitate fund-raising for start-ups.
●    The capital markets regulator also enhanced the scope of investment of foreign investors in unlisted debt securities.
●    The board in its meeting decided to amend the SEBI (Alternative Investment Funds) Regulations, 2012 based on the recommendations received from the 'Alternative Investment Policy Advisory Committee' that was constituted under the chairmanship of N. R. Narayana Murthy.
●    The regulator has increased the upper limit for number of angel investors in a scheme from forty nine to two hundred.
●    Angel Funds will also be allowed to invest in start-ups incorporated within five years instead of the earlier norm of three years.
●    The requirements of minimum investment amount by an angel fund in any venture capital undertaking has been reduced from Rs.50 lakh to Rs.25 lakh. 
●    Further, the lock-in requirements of investment made by angel funds in the venture capital undertaking has been reduced from three years to one year.


 

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