Angel fund regulation: new AIF sub category with tailored registration, investor eligibility, investment limits and governance obligations. The amendment creates angel funds as a sub category of Category I AIFs, prescribes definitions for angel investors and companies with family connection, and provides registration pathways including conversion of unused AIFs and an in principle approval process. Angel funds must raise by issuing units to qualified angel investors, meet minimum investible fund thresholds, accept investor subscriptions within prescribed minimums and timeframes, file scheme memoranda pre launch, cap scheme investor numbers, and comply with investee eligibility, investment size, concentration, lock in and governance obligations; units may not be listed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Angel fund regulation: new AIF sub category with tailored registration, investor eligibility, investment limits and governance obligations.
The amendment creates angel funds as a sub category of Category I AIFs, prescribes definitions for angel investors and companies with family connection, and provides registration pathways including conversion of unused AIFs and an in principle approval process. Angel funds must raise by issuing units to qualified angel investors, meet minimum investible fund thresholds, accept investor subscriptions within prescribed minimums and timeframes, file scheme memoranda pre launch, cap scheme investor numbers, and comply with investee eligibility, investment size, concentration, lock in and governance obligations; units may not be listed.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
