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of <h1>SEBI Sets $500M Cap for VCF Investments in Foreign Companies, Requires Indian Connection and SEBI Approval.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) outlines guidelines for SEBI-registered Venture Capital Funds (VCFs) to invest in foreign companies. These investments are limited to equity and equity-linked instruments of offshore venture capital undertakings, with a total cap of USD 500 million. VCFs must seek SEBI approval for such investments, which are restricted to foreign companies with an Indian connection and capped at 10% of a VCF's investible funds. Allocations are on a first-come, first-served basis, with a six-month utilization period. The guidelines are subject to amendments in relevant foreign exchange regulations.
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