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....d variations shall be construed accordingly,-  (1) "angel fund" means a sub-category of ^3[****] Category I- Alternative Investment Fund that raises funds from ^4[accredited investors] and invests in accordance with the provisions of this Chapter. ^5[(2) "angel investor" means an accredited investor, or key management personnel of an angel fund or its manager, who invests in an angel fu....

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....;Notification No. SEBI/LAD-NRO/GN/2025/265 dated 08-09-2025 before it was read as, "angel investors" 5.  Substituted vide Notification No. SEBI/LAD-NRO/GN/2025/265 dated 08-09-2025 before it was read as, "(2) "angel investor" means any person who proposes to invest in an angel fund and satisfies one of the following conditions, namely, (a) an i....

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.... Venture Capital Fund registered under the SEBI (Venture Capital Funds) Regulations, 1996." 6.  Substituted vide Notification No. SEBI/LAD-NRO/GN/2025/265 dated 08-09-2025 before it was read as, "(3) "company with family connection" means: a. if the angel investor is an individual, i. any company which is promoted by such an individual or his re....

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.... subsidiary or a holding company of the investor; or ii. any company which is part of the same group or under the same management of the investor; or Explanation: For the purpose of this clause, "part of the same group" and "under the same management" shall have the same meaning as assigned to it under regulation 23 of the Securities and Exchange Board of India (Issue of....