The Securities and Exchanges Board of India (SEBI) has issued a new amendment to its Alternative Investment Funds (AIF) 2012 regulations, to finalize the angel fund guidelines with a few changes. These guidelines were first introduced in June 2013. The changes to the guidelines include - - Social venture funds shall now collect a minimum amount of Rs 25 lakhs as grants. However, the grant provider shall not receive any profit or gains. - Angel funds should raise funds only from angel investors and these investors will also have to comply with the conditions imposed on the individual angel investors by SEBI. Earlier, SEBI had informed that individual investors should have early stage investment experience, or been a serial entrepreneur or had 10 years experience as a senior management executive. They should also have Rs 2 crore in net tangible assets. - Angel Funds have now been included in the definition of…
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