https://www.taxtmi.com/article/detailed?id=5354 Chapter IIIA treats Angel Funds as a defined sub-category of Category I AIFs raising capital exclusively from specified angel investors via private placement. Registration follows Chapter II (including conversions where applicable). Funds must file a scheme memorandum before launch; schemes are capped by investor numbers. Investment rules restrict eligible portfolio companies by age, turnover, group affiliation and family connection to investors; set per-deal investment floors and ceilings; impose a multi-year lock-in; prohibit associate investments; limit single-company concentration; and require sponsor/manager verification of investor eligibility and a continuing economic interest in the fund. Units may not be listed. en-us Mon, 18 Nov 2013 10:30:04 +0530 Mon, 18 Nov 2013 10:30:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5354 Chapter IIIA treats Angel Funds as a defined sub-category of Category I AIFs raising capital exclusively from specified angel investors via private placement. Registration follows Chapter II (including conversions where applicable). Funds must file a scheme memorandum before launch; schemes are capped by investor numbers. Investment rules restrict eligible portfolio companies by age, turnover, group affiliation and family connection to investors; set per-deal investment floors and ceilings; impose a multi-year lock-in; prohibit associate investments; limit single-company concentration; and require sponsor/manager verification of investor eligibility and a continuing economic interest in the fund. Units may not be listed. Articles Corporate Laws / IBC / SEBI Mon, 18 Nov 2013 10:30:04 +0530 https://www.taxtmi.com/article/detailed?id=5354