Regulation 19D - Investment in angel funds - Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012

1 [Investment in angel funds. 19D. (1) Angel funds shall only raise funds by way of issue of units to angel investors. (2) An angel fund shall have a corpus of at least 2 [five] crore rupees. (3) Angel funds shall accept, up to a maximum period of 3 [five] years, an investment of not less than twenty five lakh rupees from an angel investor. (4) Angel fund shall raise funds through private placement by issue of information memorandum or placement memorandum, by whatever name called. 4 [Provided that the provisions of the Companies Act, 2013 shall apply to the Angel Fund, if it is formed as a company.] ************** NOTES:- 1 Inserted by the SEBI (Alternative Investment Fund) (Amendment) Regulations, 2013, w.e.f. 16-09-2013 2 Substituted by the SEBI (Alternative Investment Funds)(Amendment) Regulations, 2018, w.e.f. 01-06-2018. Prior to the substitution, it read as ten . 3 Substituted by the SEBI (Alternative Investment Funds)(Amendment) Regulations, 2018, w.e.f. 01-06-2018. Prior to the substitution, it read as three . 4 Inserted by the SEBI (Alternative Investment Funds)(Amendment) Regulations, 2018, w.e.f. 01-06-2018.