Firm commitment requirement for registration as Foreign Venture Capital Investors

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....ing as Foreign Venture Capital Investors Dear Sir / Madam, Sub: Firm commitment requirement for registration as Foreign Venture Capital Investors 1. The SEBI (Venture Capital Funds) Regulations, 1996 (VCF Regulations) lay down conditions for "minimum investment in a venture capital fund" under Regulation 11  of VCF Regulations. The Regulation 11(3) of the VCF Regulations requires fir....

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....rations. 3. Therefore, applicants desirous of registering with SEBI as the Foreign Venture Capital Investors, henceforth, shall obtain firm commitment from their investors for contribution of an amount of at least USD 1 million at the time of submission of applications seeking registration as FVCIs. 4. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securi....