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of <h1>SEBI Updates Venture Capital Funds Rules: New Definitions, Investment Caps, and Prohibited Activities Introduced.</h1> The Securities and Exchange Board of India (SEBI) has amended the Venture Capital Funds Regulations, 1996, effective from their publication date in the Official Gazette. Key changes include new definitions for terms such as 'associate,' 'equity linked instruments,' and 'venture capital fund.' The amendments specify investment conditions, such as a 25% cap on investment in a single venture and a requirement for 75% of investible funds to be in unlisted equity. They also introduce a 'negative list' of prohibited investment activities. Additional provisions address fund management, investor agreements, inspection obligations, and regulatory actions for non-compliance.
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